Hawaiian Holdings Inc. (HA) Downgraded to Hold at Zacks Investment Research
Hawaiian Holdings Inc. (NASDAQ:HA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Hawaiian Holdings is a holding company of Hawaiian Airlines. Hawaiian Airlines is the largest airline headquartered in Hawaii. They are engaged primarily in the scheduled transportation of passengers, cargo and mail. Scheduled passenger service consists of daily service between Hawaii and Las Vegas, Nevada and the four key United States West Coast gateway cities of Los Angeles and San Francisco, California, Seattle, Washington and Portland, Oregon; daily service among the major islands of Hawaii; and bi-weekly service to Pago Pago, American Samoa, Papeete and Tahiti. “
Several other research analysts have also weighed in on HA. Credit Suisse Group AG set a $44.00 target price on Hawaiian Holdings and gave the stock a “hold” rating in a research report on Monday, September 12th. Vetr upgraded Hawaiian Holdings from a “buy” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Monday, June 27th. Deutsche Bank AG upped their price target on Hawaiian Holdings from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Imperial Capital assumed coverage on Hawaiian Holdings in a research note on Tuesday, September 6th. They set an “outperform” rating and a $58.00 price target for the company. Finally, Morgan Stanley reiterated a “sell” rating and set a $43.00 price target on shares of Hawaiian Holdings in a research note on Sunday, August 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Hawaiian Holdings currently has a consensus rating of “Hold” and a consensus price target of $50.00.
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Hawaiian Holdings (NASDAQ:HA) traded up 2.11% during midday trading on Thursday, reaching $49.37. The company’s stock had a trading volume of 747,223 shares. The firm has a market capitalization of $2.64 billion, a PE ratio of 11.69 and a beta of 1.30. The stock has a 50 day moving average of $47.86 and a 200 day moving average of $44.31. Hawaiian Holdings has a 52 week low of $28.40 and a 52 week high of $51.53.
Hawaiian Holdings (NASDAQ:HA) last issued its earnings results on Thursday, July 21st. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.06. Hawaiian Holdings had a return on equity of 50.15% and a net margin of 10.50%. The company had revenue of $594.60 million for the quarter, compared to analyst estimates of $589.04 million. On average, equities research analysts predict that Hawaiian Holdings will post $4.94 earnings per share for the current fiscal year.
In other Hawaiian Holdings news, CEO Mark B. Dunkerley sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $50.26, for a total value of $402,080.00. Following the completion of the sale, the chief executive officer now owns 567,644 shares in the company, valued at approximately $28,529,787.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald Anderson-Lehman sold 26,582 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $45.97, for a total value of $1,221,974.54. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of Hawaiian Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the company’s stock worth $801,000 after buying an additional 100 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Hawaiian Holdings by 0.6% in the first quarter. BlackRock Group LTD now owns 36,699 shares of the company’s stock worth $1,732,000 after buying an additional 207 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of Hawaiian Holdings by 4.2% in the second quarter. PineBridge Investments L.P. now owns 6,049 shares of the company’s stock worth $230,000 after buying an additional 242 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Hawaiian Holdings by 1.6% in the second quarter. Arizona State Retirement System now owns 24,797 shares of the company’s stock worth $941,000 after buying an additional 400 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Hawaiian Holdings by 0.9% in the second quarter. Synovus Financial Corp now owns 47,999 shares of the company’s stock worth $1,821,000 after buying an additional 408 shares during the last quarter. Institutional investors own 88.19% of the company’s stock.
About Hawaiian Holdings
Hawaiian Holdings, Inc is a holding company. The Company, through its subsidiary, Hawaiian Airlines, Inc (Hawaiian) is engaged in the scheduled air transportation of passengers and cargo. The Company offers transportation 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 the Company’s Scheduled Operations.
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