Zacks Investment Research Upgrades Hawaiian Holdings, Inc. (HA) to Strong-Buy
Hawaiian Holdings, Inc. (NASDAQ:HA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm currently has a $62.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 20.98% from the company’s current price.
According to Zacks, “Hawaiian Holdings recently reported impressive traffic numbers for April. Load factor also increased as traffic growth outpaced capacity expansion. Hawaiian Holdings’ growth is supported by strong demand for air travel to Hawaii. The carrier has an impressive history with respect to punctuality. Even in Mar 2017, the carrier scored impressively on the punctuality front among U.S. carriers with the fewest flight cancellations to boot. The company has also been performing well on the unit revenue front. Even though shares of Hawaiian Holdings have slightly underperformed the Zacks categorized Transportation-Airline industry so far this quarter, we believe that the carrier will perform well in the second quarter, continuing the trend displayed in the first quarter of 2017.”
Several other equities research analysts have also recently weighed in on the stock. Imperial Capital reissued an “outperform” rating on shares of Hawaiian Holdings in a research report on Friday, March 17th. Cowen and Company dropped their price target on shares of Hawaiian Holdings from $54.00 to $52.00 and set a “market perform” rating for the company in a research report on Monday, April 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of Hawaiian Holdings in a research report on Wednesday, February 22nd. Buckingham Research raised shares of Hawaiian Holdings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $63.00 in a research report on Friday, April 21st. They noted that the move was a valuation call. Finally, Wolfe Research raised shares of Hawaiian Holdings from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.67.
Hawaiian Holdings (NASDAQ:HA) opened at 51.25 on Wednesday. Hawaiian Holdings has a 52 week low of $34.69 and a 52 week high of $60.90. The company has a market cap of $2.75 billion, a P/E ratio of 12.53 and a beta of 1.12. The company’s 50-day moving average is $51.26 and its 200-day moving average is $51.62.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings results on Thursday, April 20th. The transportation company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.18. The business had revenue of $614.20 million during the quarter, compared to analysts’ expectations of $610.70 million. Hawaiian Holdings had a net margin of 10.28% and a return on equity of 48.91%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. On average, analysts anticipate that Hawaiian Holdings will post $5.19 EPS for the current fiscal year.
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In other news, Director Donald J. Carty acquired 5,000 shares of Hawaiian Holdings stock in a transaction on Friday, May 12th. The stock was acquired at an average cost of $53.31 per share, for a total transaction of $266,550.00. Following the purchase, the director now owns 5,675 shares in the company, valued at $302,534.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter R. Ingram sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $50.00, for a total transaction of $125,000.00. Following the sale, the executive vice president now owns 216,911 shares of the company’s stock, valued at $10,845,550. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,908 shares of company stock valued at $4,812,225. 3.40% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in HA. Flinton Capital Management LLC raised its stake in Hawaiian Holdings by 2.3% in the first quarter. Flinton Capital Management LLC now owns 2,492 shares of the transportation company’s stock worth $116,000 after buying an additional 56 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Hawaiian Holdings by 0.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,320 shares of the transportation company’s stock worth $712,000 after buying an additional 60 shares in the last quarter. Renaissance Group LLC raised its stake in Hawaiian Holdings by 1.0% in the first quarter. Renaissance Group LLC now owns 6,263 shares of the transportation company’s stock worth $291,000 after buying an additional 64 shares in the last quarter. Neuburgh Advisers LLC raised its stake in Hawaiian Holdings by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 3,026 shares of the transportation company’s stock worth $141,000 after buying an additional 68 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Hawaiian Holdings by 0.8% in the first quarter. Fifth Third Bancorp now owns 11,147 shares of the transportation company’s stock worth $518,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.
Hawaiian Holdings Company Profile
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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