Alexander & Baldwin Receives Buy Rating from Compass Point (ALEX)
Alexander & Baldwin (NASDAQ:ALEX)‘s stock had its “buy” rating reissued by analysts at Compass Point in a research report issued to clients and investors on Friday. They currently have a $60.00 target price on the stock, up from their previous target price of $58.00. Compass Point’s price target suggests a potential upside of 48.11% from the company’s current price.
The analysts wrote, “We are reiterating our Buy rating and raising our price target to $60 from $58 on shares of ALEX. After a thorough review of the company’s 10Q (filed August 8), we are publishing our updated valuation model for the company. We are increasing our NAV to $60 from $58 primarily as a result of ALEX’s ramp up in NOI and strength in Grace’s backlog (up 15% yoy). We believe that Kukui’ula will continue to be the key dial-moving asset of our NAV as price and pace continue to excel and beat our (and the Street’s) expectations while (1) updates on future developments, (2) migration of mainland assets back to HI, and (3) government paving contract awards all remain as future catalysts for the stock. Below, we include the most interesting and relevant information disclosed in the earnings release and 10Q as well as recent updates.”
Separately, analysts at Wells Fargo & Co. upgraded shares of Alexander & Baldwin from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $51.50.
Alexander & Baldwin (NASDAQ:ALEX) opened at 40.51 on Friday. Alexander & Baldwin has a one year low of $34.32 and a one year high of $45.16. The stock has a 50-day moving average of $39.75 and a 200-day moving average of $39.95. The company has a market cap of $1.975 billion and a price-to-earnings ratio of 27.76.
Alexander & Baldwin (NASDAQ:ALEX) last released its earnings data on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. Analysts expect that Alexander & Baldwin will post $1.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 4th. Shareholders of record on Monday, August 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, August 7th.
Matson, Inc (NASDAQ:ALEX) is a United States carrier in the Pacific.
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