Hexcel (NYSE:HXL) Downgraded to “Sell” at Goldman Sachs Group

Goldman Sachs Group lowered shares of Hexcel (NYSE:HXL) from a neutral rating to a sell rating in a report released on Friday morning, BenzingaRatingsTable reports. They currently have $73.00 target price on the aerospace company’s stock.

Several other equities analysts also recently issued reports on the company. Credit Suisse Group lifted their price objective on Hexcel from $72.00 to $79.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. ValuEngine downgraded Hexcel from a buy rating to a hold rating in a research report on Tuesday, August 6th. Zacks Investment Research downgraded Hexcel from a buy rating to a hold rating and set a $86.00 price objective for the company. in a research report on Tuesday, July 2nd. UBS Group upgraded Hexcel from a sell rating to a neutral rating and lifted their price objective for the company from $67.00 to $76.00 in a research report on Thursday, May 23rd. Finally, KeyCorp lifted their price objective on Hexcel from $86.00 to $91.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Hexcel has a consensus rating of Hold and a consensus target price of $81.05.

HXL traded down $0.69 during trading on Friday, hitting $79.80. The company’s stock had a trading volume of 661,400 shares, compared to its average volume of 498,417. The firm’s 50 day moving average price is $81.05 and its two-hundred day moving average price is $73.93. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.77. Hexcel has a 12 month low of $53.50 and a 12 month high of $85.63. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09.



Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, July 22nd. The aerospace company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The firm had revenue of $609.00 million during the quarter, compared to the consensus estimate of $606.03 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts forecast that Hexcel will post 3.52 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.17 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is presently 22.30%.

In other news, insider Kimberly A. Hendricks sold 3,500 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $76.00, for a total transaction of $266,000.00. Following the completion of the sale, the insider now owns 30,843 shares in the company, valued at $2,344,068. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thierry Merlot sold 6,100 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.71, for a total value of $449,631.00. Following the sale, the insider now owns 33,864 shares of the company’s stock, valued at approximately $2,496,115.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,333 shares of company stock valued at $770,283. 1.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. bought a new stake in Hexcel in the second quarter valued at about $34,000. Zions Bancorporation N.A. bought a new stake in Hexcel in the first quarter valued at about $45,000. Steward Partners Investment Advisory LLC bought a new stake in Hexcel in the second quarter valued at about $54,000. Machina Capital S.A.S. increased its holdings in Hexcel by 22.4% in the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock valued at $60,000 after purchasing an additional 136 shares during the last quarter. Finally, Manchester Capital Management LLC bought a new stake in Hexcel in the first quarter valued at about $68,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

About Hexcel

Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.

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