Hawaiian Holdings, Inc. (NASDAQ:HA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Shares of Hawaiian Holdings have underperformed its industry on a year-to-date basis. High costs are likely to hurt Hawaiian Holdings' bottom line in the third quarter, results of which should be revealed on Oct 19. Recently, the company increased its third-quarter guidance for fuel costs per gallon. The stock has witnessed the third-quarter Zacks Consensus Estimate being revised 0.5% downward over the last 30 days. The rumor that Southwest Airlines might start flights to Hawaii from mid-2018 has hurt the Hawaiian Holdings stock. We are, however, impressed by the carrier’s efforts to modernize its fleet.”
A number of other brokerages have also recently weighed in on HA. ValuEngine raised Hawaiian Holdings from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Buckingham Research cut Hawaiian Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research note on Tuesday, September 26th. Macquarie initiated coverage on Hawaiian Holdings in a research note on Monday, September 25th. They issued an “outperform” rating and a $49.00 price target on the stock. Cowen and Company reissued a “hold” rating and issued a $47.00 price target on shares of Hawaiian Holdings in a research note on Friday, September 1st. Finally, Morgan Stanley dropped their price target on Hawaiian Holdings from $40.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, August 17th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $49.08.
Hawaiian Holdings (NASDAQ:HA) last released its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $675.33 million for the quarter, compared to analyst estimates of $676.59 million. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. Hawaiian Holdings’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. On average, equities research analysts expect that Hawaiian Holdings will post $5.60 earnings per share for the current fiscal year.
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In other news, EVP Peter R. Ingram sold 1,000 shares of Hawaiian Holdings stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the completion of the sale, the executive vice president now directly owns 197,411 shares in the company, valued at approximately $7,896,440. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in Hawaiian Holdings by 42.4% in the 1st quarter. US Bancorp DE now owns 3,400 shares of the transportation company’s stock worth $158,000 after purchasing an additional 1,012 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in 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 purchasing an additional 1,828 shares during the last quarter. Trexquant Investment LP acquired a new stake in Hawaiian Holdings in the 1st quarter worth approximately $209,000. Flinton Capital Management LLC lifted its holdings in 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 purchasing an additional 2,016 shares during the last quarter. Finally, First Quadrant L P CA lifted its holdings in 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 purchasing an additional 3,073 shares during the last quarter. Hedge funds and other institutional investors own 90.42% of the company’s stock.
About Hawaiian Holdings
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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