Hawaiian Holdings, Inc. (HA) Rating Lowered to Strong Sell at BidaskClub
BidaskClub cut shares of Hawaiian Holdings, Inc. (NASDAQ:HA) from a sell rating to a strong sell rating in a report released on Monday.
A number of other equities analysts have also weighed in on HA. Citigroup Inc. decreased their price target on shares of Hawaiian Holdings from $62.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, July 26th. Stifel Nicolaus upgraded shares of Hawaiian Holdings from a sell rating to a hold rating and set a $40.00 price target on the stock in a report on Friday, July 28th. Imperial Capital reiterated an outperform rating and issued a $74.00 price target on shares of Hawaiian Holdings in a report on Thursday, July 27th. ValuEngine lowered shares of Hawaiian Holdings from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, Morgan Stanley reiterated an underweight rating and issued a $40.00 price target (down previously from $41.00) on shares of Hawaiian Holdings in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $52.25.
Hawaiian Holdings (NASDAQ HA) traded up 1.68% on Monday, reaching $42.25. The company had a trading volume of 428,527 shares. The stock has a 50 day moving average price of $46.25 and a 200 day moving average price of $49.78. The stock has a market capitalization of $2.26 billion, a PE ratio of 10.28 and a beta of 1.38. Hawaiian Holdings has a 52-week low of $39.45 and a 52-week high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last announced its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. Hawaiian Holdings had a net margin of 8.88% and a return on equity of 44.12%. The firm had revenue of $675.33 million for the quarter, compared to analyst estimates of $676.59 million. During the same quarter last year, the business earned $1.21 earnings per share. Hawaiian Holdings’s revenue was up 13.6% compared to the same quarter last year. Analysts expect that Hawaiian Holdings will post $5.76 EPS for the current year.
Hawaiian Holdings declared that its board has authorized a stock buyback plan on Thursday, April 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Mark B. Dunkerley sold 19,000 shares of Hawaiian Holdings stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $56.91, for a total transaction of $1,081,290.00. Following the sale, the insider now owns 352,942 shares of the company’s stock, valued at approximately $20,085,929.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shannon Lei Okinaka sold 2,500 shares of Hawaiian Holdings stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the sale, the chief financial officer now directly owns 33,838 shares in the company, valued at approximately $720,072.64. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $2,918,460 in the last 90 days. Company insiders own 2.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HA. BlackRock Inc. increased its stake in Hawaiian Holdings by 89,830.1% in the first quarter. BlackRock Inc. now owns 6,741,157 shares of the transportation company’s stock valued at $313,127,000 after buying an additional 6,733,661 shares during the last quarter. Vanguard Group Inc. increased its stake 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 valued at $297,549,000 after buying an additional 541,715 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $80,366,000 after buying an additional 35,723 shares during the last quarter. State Street Corp increased its stake 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 valued at $62,980,000 after buying an additional 55,043 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Hawaiian Holdings during the second quarter valued at $37,560,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
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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