Hawaiian Holdings Inc. (NASDAQ:HA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $58.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 11.19% from the stock’s previous close.
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. “
A number of other equities research analysts have also weighed in on the company. Imperial Capital raised their price objective on Hawaiian Holdings from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, November 22nd. Citigroup Inc. assumed coverage on Hawaiian Holdings in a report on Friday, November 18th. They set a “neutral” rating and a $48.00 target price on the stock. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $41.00 target price on shares of Hawaiian Holdings in a report on Friday, October 21st. Deutsche Bank AG increased their target price on Hawaiian Holdings from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, October 12th. Finally, Morgan Stanley reaffirmed a “sell” rating and set a $43.00 target price on shares of Hawaiian Holdings in a report on Sunday, August 21st. One equities 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 stock currently has a consensus rating of “Hold” and an average target price of $50.64.
Shares of Hawaiian Holdings (NASDAQ:HA) traded down 0.95% on Monday, reaching $51.95. The stock has a 50-day moving average of $47.86 and a 200-day moving average of $44.70. The stock has a market capitalization of $2.78 billion, a P/E ratio of 10.47 and a beta of 1.16. Hawaiian Holdings has a 12-month low of $28.40 and a 12-month high of $53.35.
Hawaiian Holdings (NASDAQ:HA) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $669.22 million. During the same quarter last year, the firm earned $1.29 EPS. Hawaiian Holdings’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect that Hawaiian Holdings will post $5.11 EPS for the current year.
In other news, Director Richard N. Zwern sold 17,500 shares of Hawaiian Holdings stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $46.81, for a total transaction of $819,175.00. Following the transaction, the director now directly owns 32,866 shares in the company, valued at approximately $1,538,457.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark B. Dunkerley sold 8,000 shares of Hawaiian Holdings stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $50.26, for a total value of $402,080.00. Following the transaction, the chief executive officer now owns 567,644 shares in the company, valued at $28,529,787.44. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Several institutional investors have recently modified their holdings of HA. Wellington Management Group LLP boosted its position in shares of Hawaiian Holdings by 9.0% in the first quarter. Wellington Management Group LLP now owns 182,552 shares of the company’s stock valued at $8,615,000 after buying an additional 15,049 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Hawaiian Holdings by 72.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 18,400 shares of the company’s stock worth $868,000 after buying an additional 7,730 shares during the last quarter. Squarepoint Ops LLC boosted its position 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 bought a new position in shares of Hawaiian Holdings during the first quarter worth about $735,000. Finally, BNP Paribas Arbitrage SA boosted its position 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. Institutional investors own 87.80% of the company’s stock.
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.