Alexander & Baldwin (NYSE:ALEX) Hits New 1-Year High – What’s Next?

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.97 and last traded at $20.8850, with a volume of 5032212 shares changing hands. The stock had previously closed at $15.14.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALEX shares. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander & Baldwin in a research report on Monday, December 1st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.00.

Alexander & Baldwin Trading Up 37.9%

The stock’s fifty day simple moving average is $16.26 and its 200-day simple moving average is $17.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $1.52 billion, a PE ratio of 20.68, a PEG ratio of 1.36 and a beta of 1.00.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $50.25 million during the quarter, compared to analyst estimates of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. On average, sell-side analysts forecast that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Evelyn Partners Asset Management Ltd purchased a new stake in Alexander & Baldwin in the second quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Alexander & Baldwin in the 1st quarter valued at $41,000. Parallel Advisors LLC increased its stake in shares of Alexander & Baldwin by 76.7% in the second quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,069 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Alexander & Baldwin in the second quarter worth $46,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Alexander & Baldwin during the third quarter worth $49,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.