The stock of Alexander & Baldwin Inc (NYSE:ALEX) hit a new 52-week high and has $67.13 target or 56.00% above today’s $43.03 share price. The 8 months bullish chart indicates low risk for the $2.10 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $67.13 price target is reached, the company will be worth $1.18B 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 125,308 shares traded hands. Alexander & Baldwin Inc (NYSE:ALEX) has risen 14.17% since April 11, 2016 and is uptrending. It has outperformed by 8.02% the S&P500.
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. The rating was downgraded by JMP Securities on Friday, August 26 to “Market Perform”. The firm has “Sell” rating by Zacks given on Wednesday, September 2.
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 0.99 in Q2 2016. Its down 0.49, from 1.48 in 2016Q1. The ratio dropped, 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.
Swiss Bancshares owns 72,600 shares or 0% of their US portfolio. Strs Ohio, a Ohio-based fund reported 500 shares. Stifel Financial reported 66,328 shares or 0.01% of all its holdings. Sg Americas Limited Liability Corporation accumulated 0.01% or 31,286 shares. Van Eck Assocs accumulated 946 shares or 0% of the stock. Creative Planning holds 833 shares or 0% of its portfolio. Ameritas Investment Ptnrs Inc owns 11,050 shares or 0.03% of their US portfolio. Texas Permanent School Fund reported 35,204 shares or 0.02% of all its holdings. Ridgeworth Mgmt Ltd accumulated 0.27% or 832,090 shares. Marshall Wace Ltd Liability Partnership holds 0% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX) for 6,220 shares. Amalgamated Retail Bank has 5,692 shares for 0.01% of their US portfolio. Envestnet Asset Management Inc has invested 0% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX). Trust Department Mb Fin Savings Bank N A has invested 0% of its portfolio in Alexander & Baldwin Inc (NYSE:ALEX). Pioneer Management accumulated 0.01% or 75,000 shares. Deutsche Natl Bank Ag last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 25, 2016, the stock had 5 insider purchases, and 5 selling transactions for $454,084 net activity. $23,115 worth of Alexander & Baldwin Inc (NYSE:ALEX) shares were bought by Hulihee David C. KURIYAMA STANLEY M had sold 4,250 shares worth $173,485.
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, Prnewswire.com published: “Clayton Chun Named Alexander & Baldwin Controller” on September 01, 2015. More interesting news about Alexander & Baldwin Inc (NYSE:ALEX) were released by: Forbes.com and their article: “Ex-Dividend Reminder: Janus Capital Group, Alexander & Baldwin and Citigroup” published on November 01, 2016 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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