Hawaiian Holdings Inc. (HA) Rating Lowered 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 Tuesday.
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. “
HA has been the subject of a number of other research reports. Morgan Stanley reaffirmed a “sell” rating and issued a $43.00 price target on shares of Hawaiian Holdings in a report on Sunday, August 21st. Imperial Capital increased their target price on Hawaiian Holdings from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Deutsche Bank AG increased their target price on Hawaiian Holdings from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 12th. Citigroup Inc. began coverage on Hawaiian Holdings in a report on Friday, November 18th. They set a “neutral” rating and a $48.00 target price for the company. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $41.00 target price on shares of Hawaiian Holdings in a report on Friday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $50.64.
Shares of Hawaiian Holdings (NASDAQ:HA) opened at 51.35 on Tuesday. Hawaiian Holdings has a 52 week low of $28.40 and a 52 week high of $53.35. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 10.35 and a beta of 1.16. The company’s 50 day moving average price is $47.86 and its 200-day moving average price is $44.70.
Hawaiian Holdings (NASDAQ:HA) last released its quarterly earnings results on Tuesday, October 18th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The company earned $671.83 million during the quarter, compared to analysts’ expectations of $669.22 million. Hawaiian Holdings had a return on equity of 48.03% and a net margin of 11.72%. Hawaiian Holdings’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. Analysts anticipate that Hawaiian Holdings will post $5.11 earnings per share for the current fiscal year.
In other Hawaiian Holdings news, CEO Mark B. Dunkerley sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $50.26, for a total transaction of $402,080.00. Following the transaction, the chief executive officer now directly owns 567,644 shares in the company, valued at $28,529,787.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Hershfield sold 20,000 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $47.48, for a total value of $949,600.00. Following the transaction, the director now owns 406,664 shares in the company, valued at $19,308,406.72. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in Hawaiian Holdings during the second quarter worth approximately $33,414,000. Vanguard Group Inc. boosted its position in Hawaiian Holdings by 13.5% in the second quarter. Vanguard Group Inc. now owns 5,958,584 shares of the company’s stock worth $226,188,000 after buying an additional 706,642 shares during the period. Numeric Investors LLC boosted its position in Hawaiian Holdings by 87.0% in the second quarter. Numeric Investors LLC now owns 1,163,169 shares of the company’s stock worth $44,154,000 after buying an additional 541,015 shares during the period. BlackRock Fund Advisors boosted its position in Hawaiian Holdings by 15.6% in the third quarter. BlackRock Fund Advisors now owns 3,621,734 shares of the company’s stock worth $176,016,000 after buying an additional 489,803 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in Hawaiian Holdings during the second quarter worth approximately $15,873,000. Institutional investors own 87.80% 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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