Hawaiian (NASDAQ:HA) Rating Lowered to Sell at Zacks Investment Research

Hawaiian (NASDAQ:HA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports. They currently have a $13.00 target price on the transportation company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.34% from the stock’s previous close.

According to Zacks, “Shares of Hawaiian Holdings have shed more than 58% of value since the beginning of February due to the unprecedented air-travel demand crisis in the wake of the coronavirus. Due to soft demand for air travel, Hawaiian Holdings' second-quarter performance was hurt due to declining passenger revenues, as tourism to Hawaii was non-existent. Moreover, due to this coronavirus-related uncertainty, the carrier did not provide any detailed guidance for third-quarter 2020. Amid this crisis, low economc ifuel cost (down 15% per gallon in first-half 2020) should help the company partly mitigate the adversities stemming from the shrinkage in demand for air travel. Also, the focus on cargo services is encouraging. To this end, the carrier extended its inter-island cargo services to facilitate movement of certain essentials including food and medicine.”

Other research analysts have also recently issued reports about the company. Wolfe Research cut Hawaiian from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research report on Friday, May 29th. BidaskClub cut Hawaiian from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 25th. ValuEngine raised Hawaiian from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus lifted their price objective on Hawaiian from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.91.

Shares of NASDAQ:HA opened at $11.89 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.93 and a quick ratio of 0.96. The stock’s 50-day simple moving average is $14.12 and its two-hundred day simple moving average is $17.10. Hawaiian has a 52-week low of $7.55 and a 52-week high of $31.34.

Hawaiian (NASDAQ:HA) last announced its earnings results on Tuesday, July 28th. The transportation company reported ($3.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.42) by ($0.39). Hawaiian had a negative return on equity of 8.35% and a negative net margin of 5.83%. The firm had revenue of $60.00 million during the quarter, compared to analysts’ expectations of $59.48 million. During the same period in the previous year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was down 91.6% on a year-over-year basis. Equities analysts anticipate that Hawaiian will post -9.14 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in HA. Acadian Asset Management LLC increased its position in shares of Hawaiian by 62.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,662 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 1,402 shares during the last quarter. Cognios Capital LLC bought a new position in shares of Hawaiian during the 1st quarter valued at approximately $51,000. Advisor Group Holdings Inc. bought a new position in shares of Hawaiian during the 1st quarter valued at approximately $76,000. Nisa Investment Advisors LLC increased its position in shares of Hawaiian by 475.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,715 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 6,375 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Hawaiian during the 1st quarter valued at approximately $81,000. 80.16% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, 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 Long Beach, Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; Seattle, Washington, and New York City, New York.

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