The stock of Alexander & Baldwin Inc (NYSE:ALEX) hit a new 52-week high and has $45.25 target or 3.00% above today’s $43.93 share price. The 5 months bullish chart indicates low risk for the $2.16B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $45.25 price target is reached, the company will be worth $64.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 37,981 shares traded hands. Alexander & Baldwin Inc (NYSE:ALEX) has risen 12.90% since April 22, 2016 and is uptrending. It has outperformed by 7.49% the S&P500.
Analysts await Alexander & Baldwin Inc (NYSE:ALEX) to report earnings on February, 23.
Alexander & Baldwin Inc (NYSE:ALEX) Ratings Coverage
Out of 3 analysts covering Alexander & Baldwin (NYSE:ALEX), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Alexander & Baldwin has been the topic of 3 analyst reports since September 2, 2015 according to StockzIntelligence Inc. As per Wednesday, September 2, the company rating was downgraded by Zacks. On Friday, August 26 the stock rating was downgraded by JMP Securities to “Market Perform”.
According to Zacks Investment Research, “Alexander & Baldwin, Inc. is a real estate and land company. It is engaged in land stewardship, planning, entitlement, development and management of commercial properties, and real estate development. It develops and sells real property, primarily in Hawaii, and operates a commercial portfolio of retail, office and industrial space. The Company also owns and operates the Hawaiian Commercial & Sugar plantation on Maui and provides renewable energy on the islands of Maui and Kauai. Alexander & Baldwin, Inc. is headquartered in Honolulu, Hawaii.”
Insitutional Activity: The institutional sentiment decreased to 0.63 in Q2 2016. Its down 0.36, from 0.99 in 2016Q1. The ratio worsened, as 12 funds sold all Alexander & Baldwin Inc shares owned while 62 reduced positions. 7 funds bought stakes while 66 increased positions. They now own 37.47 million shares or 0.35% less from 37.60 million shares in 2016Q1.
First Manhattan last reported 0.01% of its portfolio in the stock. Legal And General Grp Public Limited Com owns 12,276 shares or 0% of their US portfolio. Reliance Trust Of Delaware holds 0.44% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX) for 163,125 shares. Deutsche Bancorporation Ag holds 28,298 shares or 0% of its portfolio. Van Eck Assoc holds 946 shares or 0% of its portfolio. First Midwest Bank Tru Division, a Illinois-based fund reported 9,413 shares. Diversified Trust Company holds 0.08% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX) for 18,419 shares. Voya Inv Ltd has invested 0% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX). Checchi Cap Advisers Lc holds 48 shares or 0% of its portfolio. The Ohio-based Meeder Asset Management Inc has invested 0.06% in Alexander & Baldwin Inc (NYSE:ALEX). Oregon Pub Employees Retirement Fund reported 15,039 shares or 0.01% of all its holdings. Alliancebernstein Lp last reported 84,819 shares in the company. Trust Department Mb Fincl Bank N A holds 0% or 76 shares in its portfolio. Fourpoints Invest Managers Sas holds 1.95% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX) for 77,300 shares. Ameritas Investment Prns Incorporated has invested 0.03% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX).
Insider Transactions: Since May 26, 2016, the stock had 2 buys, and 7 sales for $2.16 million net activity. On Tuesday, August 9 the insider KURIYAMA STANLEY M sold $173,485. Hulihee David C had bought 2,700 shares worth $98,736 on Thursday, May 26. DOANE W ALLEN JR also sold $1.30 million worth of Alexander & Baldwin Inc (NYSE:ALEX) on Wednesday, November 16.
More notable recent Alexander & Baldwin Inc (NYSE:ALEX) news were published by: Prnewswire.com which released: “Alexander & Baldwin Announces Third Quarter 2016 Earnings Release And Webcast” on October 20, 2016, also Prnewswire.com with their article: “Alexander & Baldwin Reports Third Quarter 2016 Results” published on October 27, 2016, Bizjournals.com published: “A&B ending sugar operations on Maui, laying off more than 600 employees” on January 06, 2016. More interesting news about Alexander & Baldwin Inc (NYSE:ALEX) were released by: Prnewswire.com and their article: “Alexander & Baldwin, Inc. to Acquire Grace Pacific Corporation” published on June 07, 2013 as well as Prnewswire.com‘s news article titled: “Chris Benjamin Appointed To Board Of Alexander & Baldwin, Inc.” with publication date: November 02, 2015.
ALEX Company Profile
Alexander & Baldwin, Inc. (A&B), incorporated in 1900, is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Firm operates in four divisions: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. The Company’s real estate divisions engage in real estate development and ownership activities, including planning, zoning, financing, constructing, purchasing, managing, leasing, selling, exchanging and investing in real property. Real estate activities are conducted through A&B Properties, Inc. and other subsidiaries of A&B.
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