Alexander & Baldwin (NYSE:ALEX) Stock Rating Lowered by StockNews.com

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

ALEX has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued 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 restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Stock Down 1.0 %

Shares of NYSE:ALEX opened at $17.54 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 28.28 and a beta of 1.29. The company has a fifty day simple moving average of $18.52 and a 200 day simple moving average of $18.74. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC bought a new position in Alexander & Baldwin during the 3rd quarter worth $1,151,000. Jane Street Group LLC boosted its holdings in shares of Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 35,916 shares during the period. Victory Capital Management Inc. grew its position in shares of Alexander & Baldwin by 3.1% during the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after acquiring an additional 29,006 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alexander & Baldwin by 1.3% in 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 acquiring an additional 23,441 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after acquiring an additional 111,392 shares during the period. Institutional investors 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.