Hawaiian Holdings Inc. (NASDAQ:HA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
Other research analysts have also issued research reports about the company. Deutsche Bank AG upgraded Hawaiian Holdings from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Monday, June 27th. They noted that the move was a valuation call. Argus upgraded Hawaiian Holdings from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, July 26th. Credit Suisse Group AG set a $44.00 price target on Hawaiian Holdings and gave the stock a “hold” rating in a research report on Monday, September 12th. Vetr lowered Hawaiian Holdings from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research report on Thursday, July 7th. Finally, Bank of America Corp. reiterated a “hold” rating and set a $47.00 price target on shares of Hawaiian Holdings in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.00.
Shares of Hawaiian Holdings (NASDAQ:HA) traded up 2.11% on Thursday, hitting $49.37. The stock had a trading volume of 747,223 shares. The firm has a market cap of $2.64 billion, a P/E ratio of 11.69 and a beta of 1.30. The company’s 50-day moving average price is $47.86 and its 200 day moving average price is $44.31. Hawaiian Holdings has a 12-month low of $28.40 and a 12-month high of $51.53.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.06. Hawaiian Holdings had a return on equity of 50.15% and a net margin of 10.50%. The company earned $594.60 million during the quarter, compared to analyst estimates of $589.04 million. On average, equities research analysts forecast that Hawaiian Holdings will post $4.94 earnings per share for the current fiscal year.
In related news, Director William S. Swelbar sold 16,577 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $44.59, for a total transaction of $739,168.43. Following the transaction, the director now directly owns 12,675 shares of the company’s stock, valued at $565,178.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald Anderson-Lehman sold 26,582 shares of the company’s stock in a transaction 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. Insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HA. Capstone Asset Management Co. raised its position in Hawaiian Holdings by 5.5% in the third quarter. Capstone Asset Management Co. now owns 17,930 shares of the company’s stock valued at $871,000 after buying an additional 940 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Hawaiian Holdings during the third quarter valued at $335,000. Creative Planning raised its position in Hawaiian Holdings by 11.8% in the third quarter. Creative Planning now owns 11,630 shares of the company’s stock valued at $565,000 after buying an additional 1,230 shares during the last quarter. Advisory Services Network LLC acquired a new position in Hawaiian Holdings during the third quarter valued at $227,000. Finally, Eqis Capital Management Inc. acquired a new position in Hawaiian Holdings during the third quarter valued at $324,000. 88.19% of the stock is currently owned by hedge funds and other institutional investors.
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.