Citigroup Inc. Trims Hawaiian Holdings, Inc. (HA) Target Price to $50.00
Hawaiian Holdings, Inc. (NASDAQ:HA) had its price objective reduced by Citigroup Inc. from $62.00 to $50.00 in a research report released on Wednesday morning. Citigroup Inc. currently has a neutral rating on the transportation company’s stock.
Several other brokerages also recently weighed in on HA. Zacks Investment Research downgraded shares of Hawaiian Holdings from a buy rating to a hold rating in a research note on Wednesday, March 29th. Imperial Capital increased their price target on shares of Hawaiian Holdings from $68.00 to $71.00 and gave the stock an outperform rating in a report on Friday, April 21st. Deutsche Bank AG reissued a buy rating and set a $63.00 price target (up from $60.00) on shares of Hawaiian Holdings in a report on Sunday, April 23rd. Bank of America Corporation cut their price target on shares of Hawaiian Holdings from $47.00 to $43.00 and set an underperform rating for the company in a report on Friday, June 30th. Finally, BidaskClub cut shares of Hawaiian Holdings from a buy rating to a hold rating in a report on Friday, June 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $52.25.
Hawaiian Holdings (HA) traded up 1.08% during trading on Wednesday, hitting $41.95. The company’s stock had a trading volume of 1,336,350 shares. Hawaiian Holdings has a one year low of $39.45 and a one year high of $60.90. The company has a 50-day moving average of $47.09 and a 200 day moving average of $50.09. The firm has a market cap of $2.25 billion, a PE ratio of 10.20 and a beta of 1.41.
Hawaiian Holdings (NASDAQ:HA) last announced its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Hawaiian Holdings had a net margin of 8.88% and a return on equity of 44.12%. The business had revenue of $675.33 million during the quarter, compared to the consensus estimate of $676.59 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Hawaiian Holdings will post $5.68 earnings per share for the current year.
Hawaiian Holdings declared that its board has initiated a stock repurchase program on Thursday, April 20th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other Hawaiian Holdings news, CAO Ronald Anderson-Lehman sold 29,408 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $55.00, for a total value of $1,617,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 34,847 shares of the company’s stock, valued at $1,916,585. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter R. Ingram sold 2,500 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $48.10, for a total transaction of $120,250.00. Following the completion of the transaction, the executive vice president now directly owns 199,411 shares of the company’s stock, valued at $9,591,669.10. The disclosure for this sale can be found here. Insiders have sold 84,408 shares of company stock valued at $4,535,900 over the last three months. 2.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC boosted its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Flinton Capital Management LLC now owns 2,492 shares of the transportation company’s stock worth $116,000 after buying an additional 56 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Hawaiian Holdings by 0.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,320 shares of the transportation company’s stock worth $712,000 after buying an additional 60 shares during the period. Renaissance Group LLC boosted its position in shares of Hawaiian Holdings by 1.0% in the first quarter. Renaissance Group LLC now owns 6,263 shares of the transportation company’s stock worth $291,000 after buying an additional 64 shares during the period. Neuburgh Advisers LLC raised its stake in Hawaiian Holdings by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 3,026 shares of the transportation company’s stock valued at $141,000 after buying an additional 68 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Hawaiian Holdings by 0.8% in the first quarter. Fifth Third Bancorp now owns 11,147 shares of the transportation company’s stock valued at $518,000 after buying an additional 90 shares in the last quarter. 90.20% of the stock is owned by institutional investors.
Hawaiian Holdings Company Profile
Hawaiian Holdings, Inc is a holding company. The Company is engaged in the scheduled air transportation of passengers and cargo amongst the Hawaiian Islands (the Neighbor Island routes), between the Hawaiian Islands and certain cities in the United States (the North America routes), and between the Hawaiian Islands and the South Pacific, Australia, New Zealand and Asia (the International routes), collectively referred to as its Scheduled Operations.
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