Alexander & Baldwin (NYSE:ALEX) Downgraded to Hold (C+) Rating by Weiss Ratings

Key Points

• Weiss Ratings downgraded Alexander & Baldwin from a "buy (b-)" to a "hold (c+)" rating, indicating a more cautious outlook for investors.
• JMP Securities maintained a "market perform" rating, contributing to the consensus rating of "Hold" with a target price set at $24.00.
• Recent trading shows the stock price at $17.14 with a market capitalization of $1.25 billion, but a low current ratio of 0.20 raises concerns about liquidity.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) was downgraded by Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $24.00.

Alexander & Baldwin Trading Down 0.7%

NYSE:ALEX traded down $0.12 on Wednesday, reaching $17.14. 183,102 shares of the stock traded hands, compared to its average volume of 432,292. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. Alexander & Baldwin has a 1-year low of $15.70 and a 1-year high of $19.97. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $18.47 and its 200-day moving average is $17.82.

Hedge Funds Weigh In On Alexander & Baldwin

Large investors have recently modified their holdings of the company. Evelyn Partners Asset Management Ltd bought a new position in shares of Alexander & Baldwin in the 2nd quarter worth $25,000. Jones Financial Companies Lllp bought a new position in Alexander & Baldwin during the 1st quarter valued at $41,000. Parallel Advisors LLC lifted its stake in Alexander & Baldwin by 76.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 1,069 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Alexander & Baldwin during the 2nd quarter valued at $46,000. Finally, GAMMA Investing LLC lifted its stake in Alexander & Baldwin by 52.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 942 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.

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