Piper Sandler Issues Positive Forecast for Alexander & Baldwin (NYSE:ALEX) Stock Price

Alexander & Baldwin (NYSE:ALEX) had its price objective boosted by stock analysts at Piper Sandler from $23.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 33.44% from the company’s previous close.

A number of other equities research analysts have also issued reports on ALEX. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Alexander & Baldwin has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Alexander & Baldwin Trading Down 0.6 %

Shares of ALEX stock opened at $17.99 on Friday. The company has a market cap of $1.31 billion, a PE ratio of 29.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s 50 day simple moving average is $17.68 and its two-hundred day simple moving average is $18.65. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Research analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds have recently modified their holdings of ALEX. Public Employees Retirement System of Ohio acquired a new stake in Alexander & Baldwin in the 4th quarter worth approximately $1,857,000. PharVision Advisers LLC purchased a new position in shares of Alexander & Baldwin in the fourth quarter worth $209,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alexander & Baldwin by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 499,565 shares of the financial services provider’s stock worth $8,862,000 after buying an additional 18,312 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth $532,000. Finally, Two Sigma Investments LP grew its holdings in shares of Alexander & Baldwin by 5.8% during the fourth quarter. Two Sigma Investments LP now owns 61,761 shares of the financial services provider’s stock valued at $1,096,000 after buying an additional 3,375 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.