Zacks Investment Research upgraded shares of Hawaiian Holdings Inc. (NASDAQ:HA) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. The firm currently has $54.00 target price on the stock.
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. “
Several other brokerages have also commented on HA. Deutsche Bank AG raised shares of Hawaiian Holdings from a hold rating to a buy rating and set a $41.00 price objective on the stock in a research report on Monday, June 27th. They noted that the move was a valuation call. Vetr raised shares of Hawaiian Holdings from a buy rating to a strong-buy rating and set a $42.00 price objective on the stock in a research report on Monday, June 27th. Cowen and Company lifted their price objective on shares of Hawaiian Holdings from $46.00 to $48.00 and gave the stock a market perform rating in a research report on Friday, July 22nd. Bank of America Corp. reaffirmed a hold rating and issued a $47.00 price objective on shares of Hawaiian Holdings in a research report on Friday, July 22nd. Finally, Argus raised shares of Hawaiian Holdings from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $50.00.
Hawaiian Holdings (NASDAQ:HA) opened at 48.34 on Wednesday. The firm’s 50 day moving average is $48.03 and its 200-day moving average is $44.30. Hawaiian Holdings has a 12 month low of $28.40 and a 12 month high of $51.53. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 11.44 and a beta of 1.30.
Hawaiian Holdings (NASDAQ:HA) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.06. Hawaiian Holdings had a net margin of 10.50% and a return on equity of 50.15%. The business had revenue of $594.60 million for the quarter, compared to analysts’ expectations of $589.04 million. On average, equities analysts forecast that Hawaiian Holdings will post $4.94 EPS for the current year.
In other Hawaiian Holdings news, CEO Mark B. Dunkerley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $50.26, for a total value of $402,080.00. Following the completion of the transaction, the chief executive officer now owns 567,644 shares of the company’s stock, valued at approximately $28,529,787.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Barbara Falvey sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $45.25, for a total transaction of $248,875.00. Following the completion of the transaction, the senior vice president now directly owns 23,534 shares of the company’s stock, valued at approximately $1,064,913.50. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HA. Advisor Group Inc. acquired a new stake in shares of Hawaiian Holdings during the second quarter worth about $129,000. Acrospire Investment Management LLC acquired a new stake in shares of Hawaiian Holdings during the first quarter worth about $134,000. Societe Generale acquired a new stake in shares of Hawaiian Holdings during the second quarter worth about $149,000. SG Americas Securities LLC acquired a new stake in shares of Hawaiian Holdings during the second quarter worth about $149,000. Finally, Sei Investments Co. boosted its stake in shares of Hawaiian Holdings by 27.1% in the second quarter. Sei Investments Co. now owns 4,212 shares of the company’s stock worth $160,000 after buying an additional 899 shares during the period. 88.11% of the stock is owned by institutional investors and hedge funds.
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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