Alexander & Baldwin (NYSE:ALEX) Rating Lowered to “Hold” at StockNews.com

Alexander & Baldwin (NYSE:ALEX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Alexander & Baldwin Stock Down 1.5 %

Alexander & Baldwin stock opened at $17.68 on Tuesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 28.51 and a beta of 1.29. The firm has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $18.78. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of Alexander & Baldwin by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock worth $399,000 after buying an additional 2,014 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alexander & Baldwin by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 57,743 shares of the financial services provider’s stock valued at $979,000 after acquiring an additional 9,730 shares during the period. Sei Investments Co. boosted its stake in shares of Alexander & Baldwin by 6.7% in the 2nd quarter. Sei Investments Co. now owns 34,792 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 2,179 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at $219,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Alexander & Baldwin by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,563 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 1,938 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.