Alexander & Baldwin (NYSE:ALEX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a report released on Monday morning.

ALEX has been the topic of several other research reports. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Stock Up 0.6 %

NYSE:ALEX opened at $19.78 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 31.71 and a beta of 1.26. The stock’s fifty day moving average price is $19.07 and its two-hundred day moving average price is $18.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALEX. Vanguard Group Inc. raised its holdings in shares of Alexander & Baldwin by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after acquiring an additional 71,797 shares during the last quarter. State Street Corp raised its position in Alexander & Baldwin by 9.4% in the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after acquiring an additional 363,223 shares during the period. Reinhart Partners LLC. boosted its stake in Alexander & Baldwin by 2.9% in the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock valued at $49,035,000 after acquiring an additional 72,240 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Alexander & Baldwin by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after acquiring an additional 190,357 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after purchasing an additional 23,441 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.