Hawaiian Holdings Inc. (HA) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Hawaiian Holdings Inc. (NASDAQ:HA) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $54.00 price target 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. “
HA has been the topic of a number of other research reports. Vetr downgraded shares of Hawaiian Holdings from a buy rating to a hold rating and set a $42.00 price target on the stock. in a report on Thursday, July 7th. Deutsche Bank AG raised shares of Hawaiian Holdings from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Monday, June 27th. They noted that the move was a valuation call. Morgan Stanley reiterated a sell rating and issued a $43.00 price objective on shares of Hawaiian Holdings in a research note on Sunday, August 21st. Argus upgraded 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 note on Tuesday, July 26th. Finally, Imperial Capital assumed coverage on shares of Hawaiian Holdings in a research note on Tuesday, September 6th. They issued an outperform rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $50.00.
Shares of Hawaiian Holdings (NASDAQ:HA) opened at 47.82 on Wednesday. Hawaiian Holdings has a 52-week low of $27.67 and a 52-week high of $51.53. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 11.32 and a beta of 1.30. The stock has a 50 day moving average of $47.76 and a 200 day moving average of $44.28.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $594.60 million for the quarter, compared to the consensus estimate of $589.04 million. On average, equities research analysts expect that Hawaiian Holdings will post $4.94 EPS for the current year.
In other news, CEO Mark B. Dunkerley sold 8,000 shares of Hawaiian Holdings stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $50.26, for a total transaction of $402,080.00. Following the sale, the chief executive officer now owns 567,644 shares in the company, valued at $28,529,787.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark B. Dunkerley sold 5,000 shares of Hawaiian Holdings stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. Following the sale, the insider now owns 585,644 shares in the company, valued at approximately $27,818,090. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Princeton Alpha Management LP bought a new stake in Hawaiian Holdings during the second quarter valued at about $592,000. Emerald Acquisition Ltd. bought a new stake in Hawaiian Holdings during the second quarter valued at about $15,873,000. State Street Corp boosted its stake in Hawaiian Holdings by 2.0% in the first quarter. State Street Corp now owns 1,026,827 shares of the company’s stock valued at $48,458,000 after buying an additional 19,954 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Hawaiian Holdings by 72.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 18,400 shares of the company’s stock valued at $868,000 after buying an additional 7,730 shares during the last quarter. Finally, UBS Group AG boosted its stake in Hawaiian Holdings by 56.3% in the first quarter. UBS Group AG now owns 41,497 shares of the company’s stock valued at $1,958,000 after buying an additional 14,939 shares during the last quarter. Hedge funds and other institutional investors own 88.19% 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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