Zacks Investment Research upgraded shares of Hawaiian Holdings, Inc. (NASDAQ:HA) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Hawaiian Holdings' efforts to modernize its fleet are impressive. To this end, it is remodeling its A330 fleet by adding lie flat premium seats. The company's decision announced in October 2017, to reward shareholders with dividend payments is a huge positive. The carrier's performance with respect to unit revenues is very encouraging. Passenger revenue per available seat mile (PRASM) increased 6% in the third quarter. However, shares of Hawaiian Holdings have underperformed its industry on a year-to-date basis. Adding to its woes, the company reported lower-than-expected revenues in the third quarter of 2017. Furthermore, the fourth-quarter guidance on operating revenue per available seat mile is disappointing. Additionally, high costs will continue to pressurize the bottom line.”
Other analysts also recently issued research reports about the stock. Imperial Capital reiterated an outperform rating and issued a $74.00 price target on shares of Hawaiian Holdings in a research report on Thursday, July 27th. Cowen and Company reduced their price target on shares of Hawaiian Holdings from $47.00 to $43.00 and set a market perform rating for the company in a research report on Friday, October 13th. Buckingham Research upped their price target on shares of Hawaiian Holdings from $39.00 to $44.00 and gave the company a neutral rating in a research report on Friday, October 20th. Deutsche Bank AG reiterated a hold rating and issued a $52.00 price target (down previously from $64.00) on shares of Hawaiian Holdings in a research report on Wednesday, July 26th. Finally, Morgan Stanley reiterated an underweight rating and issued a $40.00 price target (down previously from $41.00) on shares of Hawaiian Holdings in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $47.58.
Shares of Hawaiian Holdings (NASDAQ HA) traded up $3.30 during trading hours on Thursday, hitting $36.15. 2,770,000 shares of the stock traded hands, compared to its average volume of 1,025,588. The stock has a market cap of $1,896.85, a P/E ratio of 6.21, a PEG ratio of 2.88 and a beta of 1.42. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. Hawaiian Holdings has a twelve month low of $32.40 and a twelve month high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.07. Hawaiian Holdings had a net margin of 7.67% and a return on equity of 41.49%. The business had revenue of $719.56 million during the quarter, compared to the consensus estimate of $721.00 million. During the same quarter in the previous year, the firm earned $1.91 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. equities research analysts expect that Hawaiian Holdings will post 5.55 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 17th will be paid a $0.12 dividend. The ex-dividend date is Thursday, November 16th.
In other news, EVP Peter R. Ingram sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $40.65, for a total transaction of $40,650.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new stake in shares of Hawaiian Holdings in the 3rd quarter worth about $152,000. Riverhead Capital Management LLC boosted its position in shares of Hawaiian Holdings by 83.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,028 shares of the transportation company’s stock worth $189,000 after buying an additional 1,828 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Hawaiian Holdings by 80.9% in the 2nd quarter. Flinton Capital Management LLC now owns 4,508 shares of the transportation company’s stock worth $212,000 after buying an additional 2,016 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Hawaiian Holdings in the 3rd quarter worth about $224,000. Finally, First Quadrant L P CA boosted its position in shares of Hawaiian Holdings by 170.7% in the 2nd quarter. First Quadrant L P CA now owns 4,873 shares of the transportation company’s stock worth $229,000 after buying an additional 3,073 shares in the last quarter. 92.63% 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 is engaged in the scheduled air transportation of passengers and cargo 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 its Scheduled Operations.
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