Hawaiian (HA) Trading Down 12.8% Following Analyst Downgrade

Shares of Hawaiian Holdings, Inc. (NASDAQ:HA) were down 12.8% during trading on Thursday after Cowen lowered their price target on the stock from $38.00 to $37.00. Cowen currently has a market perform rating on the stock. Hawaiian traded as low as $32.52 and last traded at $33.16. Approximately 2,416,888 shares were traded during mid-day trading, an increase of 204% from the average daily volume of 794,144 shares. The stock had previously closed at $38.01.

A number of other research firms also recently issued reports on HA. BidaskClub raised Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. ValuEngine raised Hawaiian from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. Buckingham Research lowered their target price on Hawaiian from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 10th. Deutsche Bank lowered their target price on Hawaiian from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Finally, Goldman Sachs Group assumed coverage on Hawaiian in a research report on Monday, November 12th. They issued a “sell” rating and a $28.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.42.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bell Rock Capital LLC acquired a new position in Hawaiian during the third quarter worth approximately $122,000. First Hawaiian Bank acquired a new position in Hawaiian during the third quarter worth approximately $146,000. Cadinha & Co. LLC acquired a new position in Hawaiian during the third quarter worth approximately $200,000. Verition Fund Management LLC acquired a new position in Hawaiian during the third quarter worth approximately $233,000. Finally, Stevens Capital Management LP acquired a new position in Hawaiian during the second quarter worth approximately $244,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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

Hawaiian (NASDAQ:HA) last announced its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.17. The firm had revenue of $759.10 million for the quarter, compared to the consensus estimate of $762.00 million. Hawaiian had a return on equity of 30.56% and a net margin of 13.22%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. As a group, equities research analysts anticipate that Hawaiian Holdings, Inc. will post 5.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.12 dividend. 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 payout ratio is 8.51%.

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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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