Alexander & Baldwin (NYSE:ALEX) Rating Increased to B- at TheStreet

Alexander & Baldwin (NYSE:ALEX) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Tuesday, TheStreetRatingsTable reports.

A number of other brokerages have also weighed in on ALEX. Piper Sandler raised Alexander & Baldwin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $22.00 in a research note on Friday, July 30th. Zacks Investment Research downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Tuesday, September 28th.

ALEX stock opened at $23.86 on Tuesday. Alexander & Baldwin has a 1 year low of $11.55 and a 1 year high of $24.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s 50 day moving average price is $21.98 and its 200 day moving average price is $19.70. The firm has a market cap of $1.73 billion, a P/E ratio of 91.77 and a beta of 1.40.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, July 29th. The financial services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. Alexander & Baldwin had a return on equity of 2.43% and a net margin of 8.32%. On average, research analysts predict that Alexander & Baldwin will post 0.9 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ALEX. Berman Capital Advisors LLC increased its holdings in Alexander & Baldwin by 39.9% in the 3rd quarter. Berman Capital Advisors LLC now owns 1,589 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 453 shares in the last quarter. Regency Capital Management Inc. DE acquired a new stake in Alexander & Baldwin in the 1st quarter valued at $118,000. Acadian Asset Management LLC increased its holdings in Alexander & Baldwin by 68.7% in the 1st quarter. Acadian Asset Management LLC now owns 7,120 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,899 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Alexander & Baldwin by 9.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,152 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 636 shares in the last quarter. Finally, Acuitas Investments LLC increased its holdings in Alexander & Baldwin by 2,264.3% in the 2nd quarter. Acuitas Investments LLC now owns 2,627,051 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 2,515,938 shares in the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management.

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