Alexander & Baldwin (NYSE:ALEX) Reaches New 52-Week Low – What’s Next?

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) shares reached a new 52-week low on Thursday . The stock traded as low as $15.34 and last traded at $15.4220, with a volume of 216452 shares changing hands. The stock had previously closed at $15.46.

Analyst Ratings Changes

Several brokerages have issued reports on ALEX. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander & Baldwin in a report on Wednesday. Piper Sandler set a $21.00 target price on Alexander & Baldwin in a report on Monday, November 3rd. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Alexander & Baldwin has a consensus rating of “Hold” and an average target price of $21.00.

Alexander & Baldwin Stock Down 0.2%

The company has a market cap of $1.12 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a fifty day moving average price of $17.01 and a two-hundred day moving average price of $17.72.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.94% and a return on equity of 7.81%. The company had revenue of $50.25 million for the quarter, compared to the consensus estimate of $50.69 million. On average, research analysts expect that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds have recently modified their holdings of ALEX. Vanguard Group Inc. boosted its stake in shares of Alexander & Baldwin by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,771,709 shares of the financial services provider’s stock worth $214,127,000 after buying an additional 126,357 shares during the last quarter. Franklin Resources Inc. boosted its position in Alexander & Baldwin by 33.1% in the second quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock worth $44,886,000 after purchasing an additional 626,289 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alexander & Baldwin by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock worth $27,018,000 after purchasing an additional 263,483 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Alexander & Baldwin by 48.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 852,522 shares of the financial services provider’s stock valued at $15,507,000 after purchasing an additional 278,740 shares during the period. Finally, Millennium Management LLC increased its position in shares of Alexander & Baldwin by 81.8% during the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after purchasing an additional 331,969 shares during the last quarter. 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.