Hawaiian Holdings Inc. (HA) Downgraded to “Hold” at Zacks Investment Research
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 recently issued reports on HA. 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 note on Monday, June 27th. Credit Suisse Group AG set a $44.00 price objective on shares of Hawaiian Holdings and gave the company a hold rating in a research note on Monday, September 12th. Deutsche Bank AG reaffirmed a buy rating and set a $47.00 price target (up from $41.00) on shares of Hawaiian Holdings in a research note on Friday, July 8th. Bank of America Corp. reaffirmed a hold rating and set a $47.00 price target on shares of Hawaiian Holdings in a research note on Friday, July 22nd. Finally, Cowen and Company upped their price target on shares of Hawaiian Holdings from $46.00 to $48.00 and gave the stock a market perform rating in a research note on Friday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $50.00.
Hawaiian Holdings (NASDAQ:HA) traded down 0.91% during midday trading on Thursday, reaching $48.92. 183,167 shares of the company traded hands. The firm has a market capitalization of $2.61 billion, a PE ratio of 11.58 and a beta of 1.30. Hawaiian Holdings has a 12 month low of $28.40 and a 12 month high of $51.53. The company’s 50-day moving average price is $47.86 and its 200 day moving average price is $44.31.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.06. The company had revenue of $594.60 million for the quarter, compared to analysts’ expectations of $589.04 million. Hawaiian Holdings had a net margin of 10.50% and a return on equity of 50.15%. On average, equities analysts anticipate that Hawaiian Holdings will post $4.94 earnings per share for the current year.
In other news, SVP Theodoros Panagiotoulias sold 1,508 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $47.19, for a total transaction of $71,162.52. Following the completion of the transaction, the senior vice president now directly owns 12,332 shares in the company, valued at approximately $581,947.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Ronald Anderson-Lehman sold 26,582 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $45.97, for a total value of $1,221,974.54. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Hawaiian Holdings by 13.5% in the second quarter. Vanguard Group Inc. now owns 5,958,584 shares of the company’s stock valued at $226,188,000 after buying an additional 706,642 shares during the period. BlackRock Fund Advisors boosted its position in Hawaiian Holdings by 6.7% in the second quarter. BlackRock Fund Advisors now owns 3,131,931 shares of the company’s stock valued at $118,888,000 after buying an additional 196,249 shares during the period. Renaissance Technologies LLC boosted its position in Hawaiian Holdings by 37.6% in the first quarter. Renaissance Technologies LLC now owns 2,154,200 shares of the company’s stock valued at $101,657,000 after buying an additional 588,300 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Hawaiian Holdings by 7.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,226,099 shares of the company’s stock valued at $46,543,000 after buying an additional 89,658 shares during the period. Finally, Numeric Investors LLC boosted its position in Hawaiian Holdings by 87.0% in the second quarter. Numeric Investors LLC now owns 1,163,169 shares of the company’s stock valued at $44,154,000 after buying an additional 541,015 shares during the period. 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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