Hawaiian (NASDAQ:HA) Upgraded to “Market Perform” at Cowen

Hawaiian (NASDAQ:HA) was upgraded by equities researchers at Cowen from an “underperform” rating to a “market perform” rating in a report issued on Thursday, Analyst Ratings Network reports. The firm presently has a $23.00 target price on the transportation company’s stock, up from their previous target price of $17.50. Cowen’s target price would indicate a potential upside of 13.97% from the stock’s current price.

A number of other equities analysts also recently weighed in on HA. Wolfe Research downgraded Hawaiian from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 6th. They noted that the move was a valuation call. Zacks Investment Research raised Hawaiian from a “sell” rating to a “hold” rating and set a $20.00 price target for the company in a research report on Monday, December 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.71.

Shares of HA opened at $20.18 on Thursday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a 50 day simple moving average of $19.69 and a 200 day simple moving average of $20.38. Hawaiian has a 52-week low of $17.01 and a 52-week high of $31.38. The firm has a market capitalization of $1.03 billion, a PE ratio of -4.42 and a beta of 2.11.

Hawaiian (NASDAQ:HA) last issued its quarterly earnings data on Tuesday, October 26th. The transportation company reported ($0.95) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.34. Hawaiian had a negative return on equity of 79.33% and a negative net margin of 17.16%. The business had revenue of $180.41 million during the quarter, compared to analyst estimates of $488.82 million. During the same period in the previous year, the firm earned ($3.76) EPS. Hawaiian’s quarterly revenue was up 137.4% compared to the same quarter last year. Equities research analysts predict that Hawaiian will post -7.88 EPS for the current fiscal year.

In other news, Director Donald J. Carty sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 16th. The stock was sold at an average price of $17.81, for a total value of $356,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Aaron J. Alter sold 2,500 shares of the stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $19.30, for a total value of $48,250.00. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. raised its stake in Hawaiian by 56.0% in the 4th quarter. Wedbush Securities Inc. now owns 24,850 shares of the transportation company’s stock valued at $456,000 after acquiring an additional 8,925 shares during the period. Bank of New York Mellon Corp raised its stake in Hawaiian by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 595,583 shares of the transportation company’s stock valued at $12,901,000 after acquiring an additional 30,341 shares during the period. BNP Paribas Arbitrage SA raised its stake in Hawaiian by 45.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 69,998 shares of the transportation company’s stock valued at $1,516,000 after acquiring an additional 21,854 shares during the period. LPL Financial LLC raised its stake in Hawaiian by 14.1% in the 3rd quarter. LPL Financial LLC now owns 13,997 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 1,731 shares during the period. Finally, Millennium Management LLC bought a new stake in Hawaiian in the 3rd quarter valued at $1,941,000. Institutional investors and hedge funds own 85.05% of the company’s stock.

Hawaiian Company Profile

Hawaiian Holdings, Inc is a holding company, which engages in the provision of air transportation services. It offers cargo handling and passenger flights between the Hawaiian Islands and its neighbor island routes through its subsidiary, Hawaiian Airlines, Inc The company was founded on January 30, 1929 and is headquartered in Honolulu, HI.

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Analyst Recommendations for Hawaiian (NASDAQ:HA)

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