Hawaiian Holdings’ (HA) “Underperform” Rating Reiterated at Bank of America Corporation

Bank of America Corporation reissued their underperform rating on shares of Hawaiian Holdings, Inc. (NASDAQ:HA) in a research note published on Tuesday morning. Bank of America Corporation currently has a $38.00 price objective on the transportation company’s stock, down from their prior price objective of $43.00.

Other analysts have also recently issued reports about the company. ValuEngine cut Hawaiian Holdings from a buy rating to a hold rating in a research report on Thursday, September 7th. Zacks Investment Research cut Hawaiian Holdings from a hold rating to a sell rating in a research report on Tuesday. BidaskClub cut Hawaiian Holdings from a sell rating to a strong sell rating in a research report on Monday, July 31st. Stifel Nicolaus upgraded Hawaiian Holdings from a sell rating to a hold rating and set a $40.00 price target for the company in a research report on Friday, July 28th. Finally, Morgan Stanley reiterated an underweight rating and set a $41.00 price target (up from $40.00) on shares of Hawaiian Holdings in a research report on Monday, July 10th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $47.58.

Hawaiian Holdings (NASDAQ:HA) last announced its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.05. The business had revenue of $675.33 million during the quarter, compared to the consensus estimate of $676.59 million. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS.

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The firm also recently declared a special dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 16th.

In related news, EVP Peter R. Ingram sold 1,000 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $40.65, for a total transaction of $40,650.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $122,430. Company insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in Hawaiian Holdings by 4.2% during the 1st quarter. State Street Corp now owns 1,355,866 shares of the transportation company’s stock worth $62,980,000 after acquiring an additional 55,043 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Hawaiian Holdings during the 1st quarter worth about $254,000. Massachusetts Financial Services Co. MA lifted its stake in Hawaiian Holdings by 57.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,955 shares of the transportation company’s stock worth $509,000 after acquiring an additional 4,016 shares in the last quarter. FMR LLC lifted its stake in Hawaiian Holdings by 6.6% during the 1st quarter. FMR LLC now owns 239,400 shares of the transportation company’s stock worth $11,120,000 after acquiring an additional 14,900 shares in the last quarter. Finally, First Quadrant L P CA lifted its stake in Hawaiian Holdings by 170.7% during the 2nd quarter. First Quadrant L P CA now owns 4,873 shares of the transportation company’s stock worth $229,000 after acquiring an additional 3,073 shares in the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.

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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