Morgan Stanley reissued their underweight rating on shares of Hawaiian Holdings, Inc. (NASDAQ:HA) in a research note released on Wednesday. The brokerage currently has a $40.00 price target on the transportation company’s stock, down from their prior price target of $41.00.

Other analysts also recently issued research reports about the stock. Deutsche Bank AG downgraded shares of Hawaiian Holdings from a buy rating to a hold rating and lowered their target price for the company from $63.00 to $59.00 in a report on Thursday, June 8th. Buckingham Research raised shares of Hawaiian Holdings from a neutral rating to a buy rating and lifted their target price for the company from $55.00 to $63.00 in a report on Friday, April 21st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Hawaiian Holdings from a hold rating to a strong-buy rating and set a $62.00 target price on the stock in a report on Wednesday, May 17th. Citigroup Inc. lifted their target price on shares of Hawaiian Holdings from $59.00 to $62.00 and gave the company a neutral rating in a report on Friday, June 9th. Finally, Cowen and Company reaffirmed a market perform rating and issued a $56.00 target price (up previously from $52.00) on shares of Hawaiian Holdings in a report on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $52.25.

Shares of Hawaiian Holdings (NASDAQ HA) opened at 41.95 on Wednesday. Hawaiian Holdings has a 12-month low of $39.45 and a 12-month high of $60.90. The firm has a 50-day moving average of $47.09 and a 200 day moving average of $50.09. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 10.20 and a beta of 1.41.

Hawaiian Holdings (NASDAQ:HA) last issued its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.05. The business had revenue of $675.33 million for the quarter, compared to the consensus estimate of $676.59 million. Hawaiian Holdings had a net margin of 8.88% and a return on equity of 44.12%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Equities analysts forecast that Hawaiian Holdings will post $5.68 earnings per share for the current fiscal year.

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Hawaiian Holdings announced that its board has approved a share repurchase program on Thursday, April 20th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Hawaiian Holdings news, insider Mark B. Dunkerley sold 19,000 shares of Hawaiian Holdings stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $56.91, for a total transaction of $1,081,290.00. Following the completion of the transaction, the insider now owns 352,942 shares in the company, valued at $20,085,929.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ronald Anderson-Lehman sold 29,408 shares of Hawaiian Holdings stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $55.00, for a total transaction of $1,617,440.00. Following the transaction, the chief accounting officer now owns 34,847 shares of the company’s stock, valued at approximately $1,916,585. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,408 shares of company stock worth $4,535,900. 2.30% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund boosted its position in shares of Hawaiian Holdings by 1.2% in the second quarter. Texas Permanent School Fund now owns 39,161 shares of the transportation company’s stock worth $1,839,000 after buying an additional 465 shares during the last quarter. Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Hawaiian Holdings during the second quarter worth about $657,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Hawaiian Holdings during the second quarter worth about $37,560,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Hawaiian Holdings during the second quarter worth about $470,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Hawaiian Holdings by 4.0% in the second quarter. Great West Life Assurance Co. Can now owns 74,292 shares of the transportation company’s stock worth $3,485,000 after buying an additional 2,861 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.

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.

Analyst Recommendations for Hawaiian Holdings (NASDAQ:HA)

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