Hawaiian Holdings, Inc. (NASDAQ:HA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Monday.
HA has been the subject of a number of other research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up previously from $40.00) on shares of Hawaiian Holdings in a research note on Monday, July 10th. Credit Suisse Group assumed coverage on Hawaiian Holdings in a research note on Monday, June 5th. They issued an “outperform” rating and a $45.00 price target for the company. Zacks Investment Research raised Hawaiian Holdings from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, March 28th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $57.00 price target (up previously from $56.00) on shares of Hawaiian Holdings in a research note on Saturday, April 22nd. Finally, Stifel Nicolaus downgraded Hawaiian Holdings from a “hold” rating to a “sell” rating and dropped their price target for the company from $60.00 to $40.00 in a research note on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.83.
Shares of Hawaiian Holdings (NASDAQ:HA) traded down 1.10% during trading on Monday, hitting $44.80. 1,744,153 shares of the stock were exchanged. The firm’s 50-day moving average is $48.57 and its 200 day moving average is $50.40. The company has a market cap of $2.40 billion, a P/E ratio of 10.95 and a beta of 1.42. Hawaiian Holdings has a 1-year low of $43.50 and a 1-year high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last posted its earnings results on Thursday, April 20th. The transportation company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.18. Hawaiian Holdings had a return on equity of 44.77% and a net margin of 9.42%. The company had revenue of $614.20 million during the quarter, compared to the consensus estimate of $610.70 million. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Hawaiian Holdings will post $5.56 earnings per share for the current fiscal year.
Hawaiian Holdings declared that its Board of Directors has approved a stock buyback program on Thursday, April 20th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the transportation company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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In other news, Director Donald J. Carty purchased 3,000 shares of Hawaiian Holdings stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of $47.10 per share, for a total transaction of $141,300.00. Following the completion of the acquisition, the director now owns 13,675 shares in the company, valued at approximately $644,092.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shannon Lei Okinaka sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $21.28, for a total value of $53,200.00. Following the sale, the chief financial officer now owns 33,838 shares in the company, valued at $720,072.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,408 shares of company stock valued at $4,535,900. Insiders own 2.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Flinton Capital Management LLC boosted 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 valued at $116,000 after buying an additional 56 shares during the period. Americafirst Capital Management LLC purchased a new stake in Hawaiian Holdings during the first quarter valued at $127,000. First Mercantile Trust Co. boosted its stake in Hawaiian Holdings by 17.2% in the first quarter. First Mercantile Trust Co. now owns 2,954 shares of the transportation company’s stock valued at $137,000 after buying an additional 434 shares during the period. Neuburgh Advisers LLC boosted 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 valued at $141,000 after buying an additional 68 shares during the period. Finally, US Bancorp DE boosted its stake in Hawaiian Holdings by 42.4% in the first quarter. US Bancorp DE now owns 3,400 shares of the transportation company’s stock valued at $158,000 after buying an additional 1,012 shares during the period. Institutional investors own 90.20% 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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