Zacks Investment Research cut shares of Hawaiian Holdings Inc. (NASDAQ:HA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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 research analysts have also recently issued reports on the company. Imperial Capital increased their price objective on Hawaiian Holdings from $58.00 to $62.00 and gave the stock an outperform rating in a research report on Thursday, October 20th. Citigroup Inc. initiated coverage on Hawaiian Holdings in a research report on Friday, November 18th. They issued a neutral rating and a $48.00 price objective for the company. Morgan Stanley reiterated a sell rating and issued a $43.00 price objective on shares of Hawaiian Holdings in a research report on Sunday, August 21st. Deutsche Bank AG increased their price objective on Hawaiian Holdings from $50.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, October 12th. Finally, Credit Suisse Group AG restated a neutral rating and issued a $41.00 price target on shares of Hawaiian Holdings in a research report on Friday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $50.64.

Hawaiian Holdings (NASDAQ:HA) opened at 52.50 on Tuesday. Hawaiian Holdings has a 12 month low of $28.40 and a 12 month high of $53.35. The firm has a market cap of $2.80 billion, a PE ratio of 10.58 and a beta of 1.16. The stock’s 50 day moving average is $47.86 and its 200 day moving average is $44.70.

Hawaiian Holdings (NASDAQ:HA) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.08. Hawaiian Holdings had a return on equity of 48.03% and a net margin of 11.72%. The firm earned $671.83 million during the quarter, compared to the consensus estimate of $669.22 million. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Hawaiian Holdings will post $5.11 earnings per share for the current year.

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In related news, insider Mark B. Dunkerley sold 5,000 shares of the stock in a transaction on Thursday, September 1st. The stock was 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 of the company’s stock, valued at $27,818,090. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Hershfield sold 20,000 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $47.48, for a total value of $949,600.00. Following the sale, the director now directly owns 406,664 shares in the company, valued at approximately $19,308,406.72. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of HA. Wellington Management Group LLP raised its stake in Hawaiian Holdings by 9.0% in the first quarter. Wellington Management Group LLP now owns 182,552 shares of the company’s stock worth $8,615,000 after buying an additional 15,049 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Hawaiian Holdings by 107.9% in the first quarter. Squarepoint Ops LLC now owns 19,874 shares of the company’s stock worth $938,000 after buying an additional 10,315 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Hawaiian Holdings during the first quarter worth about $735,000. BNP Paribas Arbitrage SA raised its stake in shares of Hawaiian Holdings by 611.9% in the second quarter. BNP Paribas Arbitrage SA now owns 56,923 shares of the company’s stock worth $2,161,000 after buying an additional 48,927 shares during the last quarter. Finally, Patten & Patten Inc. TN acquired a new stake in shares of Hawaiian Holdings during the second quarter worth about $228,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Holdings Company Profile

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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