Hawaiian Holdings, Inc. (NASDAQ:HA) PT Lowered to $50.00 at Citigroup Inc.
Hawaiian Holdings, Inc. (NASDAQ:HA) had its price objective cut by stock analysts at Citigroup Inc. from $62.00 to $50.00 in a research report issued on Wednesday. The firm presently has a “neutral” rating on the transportation company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 19.33% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Hawaiian Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Imperial Capital upped their price target on shares of Hawaiian Holdings from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, April 21st. Deutsche Bank AG reissued a “buy” rating and issued a $63.00 price target (up from $60.00) on shares of Hawaiian Holdings in a report on Sunday, April 23rd. Bank of America Corporation cut their price target on shares of Hawaiian Holdings from $47.00 to $43.00 and set an “underperform” rating for the company in a report on Friday, June 30th. Finally, BidaskClub downgraded shares of Hawaiian Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.25.
Shares of Hawaiian Holdings (NASDAQ HA) traded down 5.20% during mid-day trading on Wednesday, hitting $41.90. 3,618,191 shares of the company traded hands. The firm has a 50-day moving average price of $48.57 and a 200 day moving average price of $50.40. Hawaiian Holdings has a 52-week low of $39.45 and a 52-week high of $60.90. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 10.24 and a beta of 1.41.
Hawaiian Holdings (NASDAQ:HA) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $675.33 million during the quarter, compared to the consensus estimate of $676.59 million. Hawaiian Holdings had a net margin of 9.42% and a return on equity of 44.77%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Equities research analysts anticipate that Hawaiian Holdings will post $5.56 EPS for the current fiscal year.
Hawaiian Holdings announced that its board has initiated a stock buyback program on Thursday, April 20th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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In other news, CAO Ronald Anderson-Lehman sold 29,408 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $55.00, for a total value of $1,617,440.00. Following the transaction, the chief accounting officer now owns 34,847 shares in the company, valued at approximately $1,916,585. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter R. Ingram sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $53.80, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now owns 206,911 shares in the company, valued at approximately $11,131,811.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,408 shares of company stock worth $4,535,900. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Hawaiian Holdings by 89,830.1% in the first quarter. BlackRock Inc. now owns 6,741,157 shares of the transportation company’s stock worth $313,127,000 after buying an additional 6,733,661 shares in the last quarter. Vanguard Group Inc. increased its position in Hawaiian Holdings by 9.2% in the first quarter. Vanguard Group Inc. now owns 6,405,780 shares of the transportation company’s stock worth $297,549,000 after buying an additional 541,715 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Hawaiian Holdings by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,730,167 shares of the transportation company’s stock worth $80,366,000 after buying an additional 35,723 shares in the last quarter. State Street Corp increased its position in Hawaiian Holdings by 4.2% in the first quarter. State Street Corp now owns 1,355,866 shares of the transportation company’s stock worth $62,980,000 after buying an additional 55,043 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Hawaiian Holdings by 5.4% in the first quarter. Geode Capital Management LLC now owns 739,269 shares of the transportation company’s stock worth $34,338,000 after buying an additional 37,899 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.
About Hawaiian Holdings
Hawaiian Holdings, Inc is a holding company. The Company is engaged in the scheduled air transportation of passengers and cargo 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 its Scheduled Operations.
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