Hawaiian (HA) Shares Price Down 12.8% After Analyst Downgrade

Hawaiian (HA) Shares Price Down 12.8% After Analyst Downgrade

Shares of Hawaiian Holdings, Inc. (NASDAQ:HA) fell 12.8% during mid-day trading on Thursday after ValuEngine downgraded the stock from a sell rating to a strong sell rating. The company traded as low as $32.52 and last traded at $33.16. 2,416,888 shares changed hands during mid-day trading, an increase of 204% from the average session volume of 794,144 shares. The stock had previously closed at $38.01.

HA has been the subject of a number of other research reports. BidaskClub raised shares of Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. Buckingham Research upped their price target on shares of Hawaiian from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, September 7th. Imperial Capital reaffirmed an “outperform” rating and set a $59.00 price target (up previously from $57.00) on shares of Hawaiian in a report on Tuesday. Citigroup upped their price target on shares of Hawaiian from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, November 29th. Finally, Cowen cut their price target on shares of Hawaiian from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $43.42.

Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Hawaiian by 7.7% during the third quarter. Legal & General Group Plc now owns 112,400 shares of the transportation company’s stock worth $4,488,000 after buying an additional 8,052 shares during the period. Nordea Investment Management AB increased its position in shares of Hawaiian by 37.1% during the third quarter. Nordea Investment Management AB now owns 112,464 shares of the transportation company’s stock worth $4,510,000 after buying an additional 30,408 shares during the period. Macquarie Group Ltd. increased its position in shares of Hawaiian by 24.4% during the third quarter. Macquarie Group Ltd. now owns 670,498 shares of the transportation company’s stock worth $26,887,000 after buying an additional 131,703 shares during the period. IndexIQ Advisors LLC increased its position in shares of Hawaiian by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 58,740 shares of the transportation company’s stock worth $2,355,000 after buying an additional 2,217 shares during the period. Finally, Summit Global Investments increased its position in shares of Hawaiian by 9.7% during the third quarter. Summit Global Investments now owns 19,200 shares of the transportation company’s stock worth $770,000 after buying an additional 1,700 shares during the period. 88.16% of the stock is owned by institutional investors.

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 5.88 and a beta of 1.40.

Hawaiian (NASDAQ:HA) last posted its quarterly earnings data on Tuesday, October 23rd. The transportation company reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.17. Hawaiian had a net margin of 13.22% and a return on equity of 30.56%. The company had revenue of $759.10 million during the quarter, compared to analysts’ expectations of $762.00 million. During the same period in the prior year, the company posted $1.92 earnings per share. Hawaiian’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Hawaiian Holdings, Inc. will post 5.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, November 15th. Hawaiian’s dividend payout ratio (DPR) is presently 8.51%.

Hawaiian Company Profile (NASDAQ:HA)

Hawaiian Holdings, Inc, through its subsidiary, engages in the scheduled air transportation of passengers and cargo. The company offers daily services on North America routes between the State of Hawai'i and Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; and Seattle, Washington.

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