Imperial Capital Reaffirms “Outperform” Rating for Hawaiian Holdings, Inc. (HA)
Imperial Capital reissued their outperform rating on shares of Hawaiian Holdings, Inc. (NASDAQ:HA) in a research report sent to investors on Thursday morning. The brokerage currently has a $74.00 price objective on the transportation company’s stock.
HA has been the subject of a number of other research reports. Zacks Investment Research downgraded Hawaiian Holdings from a buy rating to a hold rating in a report on Wednesday, March 29th. Cowen and Company decreased their target price on Hawaiian Holdings from $54.00 to $52.00 and set a market perform rating for the company in a report on Monday, April 10th. Credit Suisse Group started coverage on Hawaiian Holdings in a report on Monday, June 5th. They set an outperform rating and a $45.00 target price for the company. Citigroup Inc. restated a neutral rating and set a $57.00 target price (up previously from $56.00) on shares of Hawaiian Holdings in a report on Saturday, April 22nd. Finally, ValuEngine cut Hawaiian Holdings from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $52.25.
Shares of Hawaiian Holdings (NASDAQ HA) traded down 1.847% during mid-day trading on Thursday, hitting $41.175. 168,797 shares of the stock traded hands. Hawaiian Holdings has a 52 week low of $39.45 and a 52 week high of $60.90. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 10.016 and a beta of 1.42. The firm’s 50-day moving average is $47.09 and its 200-day moving average is $50.09.
Hawaiian Holdings (NASDAQ:HA) last announced its earnings results on Tuesday, July 25th. The transportation company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $675.33 million during the quarter, compared to the consensus estimate of $676.59 million. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. On average, analysts forecast that Hawaiian Holdings will post $5.68 earnings per share for the current year.
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Hawaiian Holdings declared that its board has approved a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other Hawaiian Holdings news, CAO Ronald Anderson-Lehman sold 29,408 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now owns 34,847 shares in the company, valued at approximately $1,916,585. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark B. Dunkerley sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $53.71, for a total value of $966,780.00. Following the transaction, the insider now owns 357,942 shares of the company’s stock, valued at approximately $19,225,064.82. The disclosure for this sale can be found here. Insiders sold 84,408 shares of company stock worth $4,535,900 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Boston Advisors LLC boosted its position in shares of Hawaiian Holdings by 14.9% in the first quarter. Boston Advisors LLC now owns 91,341 shares of the transportation company’s stock worth $4,243,000 after buying an additional 11,870 shares during the period. Palisade Capital Management LLC NJ bought a new position in shares of Hawaiian Holdings during the first quarter worth approximately $685,000. Telemus Capital LLC boosted its position in shares of Hawaiian Holdings by 0.7% in the first quarter. Telemus Capital LLC now owns 37,058 shares of the transportation company’s stock worth $1,721,000 after buying an additional 244 shares during the period. Affinity Wealth Management boosted its position in shares of Hawaiian Holdings by 2.4% in the first quarter. Affinity Wealth Management now owns 6,918 shares of the transportation company’s stock worth $321,000 after buying an additional 161 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Hawaiian Holdings by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the transportation company’s stock worth $1,013,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 90.49% 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.
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