Brokerages Set Alexander & Baldwin, Inc. (NYSE:ALEX) Target Price at $21.67

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been given an average rating of “Buy” by the three analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.67.

ALEX has been the subject of several research reports. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price for the company. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock opened at $19.78 on Friday. The firm has a market capitalization of $1.44 billion, a P/E ratio of 31.90 and a beta of 1.26. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $19.07 and its 200 day simple moving average is $18.35. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares during the period. Rothschild Investment LLC bought a new position in shares of Alexander & Baldwin in the second quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,338 shares during the period. Institutional investors 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.