Alexander & Baldwin (NYSE:ALEX) Hits New 1-Year Low – Time to Sell?

Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) hit a new 52-week low on Monday . The stock traded as low as $15.65 and last traded at $15.7340, with a volume of 77730 shares traded. The stock had previously closed at $15.97.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALEX. Piper Sandler set a $21.00 target price on Alexander & Baldwin in a research note on Monday. Weiss Ratings cut shares of Alexander & Baldwin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.00.

Alexander & Baldwin Stock Down 2.2%

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.47 and a beta of 1.04. The business has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20.

Institutional Trading of Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Alexander & Baldwin by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,810 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 621 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in shares of Alexander & Baldwin by 3.0% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 21,850 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 637 shares during the period. Amalgamated Bank grew its holdings in shares of Alexander & Baldwin by 3.3% during the 3rd quarter. Amalgamated Bank now owns 21,401 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 682 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Alexander & Baldwin by 3.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 25,974 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 884 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Alexander & Baldwin by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,613 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 911 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

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.