Hexcel Co. (NYSE:HXL) – Equities research analysts at KeyCorp lowered their Q2 2021 earnings per share estimates for Hexcel in a research note issued to investors on Thursday, June 17th. KeyCorp analyst P. Gibbs now forecasts that the aerospace company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.04. KeyCorp also issued estimates for Hexcel’s Q3 2021 earnings at $0.12 EPS and FY2021 earnings at $0.25 EPS.
Several other equities analysts have also recently commented on the stock. Barclays upgraded Hexcel from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $57.00 to $64.00 in a research note on Tuesday, March 16th. Wells Fargo & Company boosted their price target on Hexcel from $49.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, April 15th. BMO Capital Markets raised their price objective on Hexcel from $41.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 21st. They noted that the move was a valuation call. Truist Securities boosted their target price on shares of Hexcel from $35.00 to $50.00 in a research note on Wednesday, April 21st. Finally, Truist increased their target price on shares of Hexcel from $35.00 to $50.00 in a report on Wednesday, April 21st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $46.27.
Hexcel (NYSE:HXL) last released its earnings results on Sunday, April 18th. The aerospace company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. The company had revenue of $310.30 million during the quarter, compared to analysts’ expectations of $300.48 million. Hexcel had a negative return on equity of 2.80% and a negative net margin of 1.94%. The business’s revenue was down 42.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Partners LLC bought a new stake in Hexcel during the first quarter worth approximately $253,000. Schroder Investment Management Group raised its stake in shares of Hexcel by 2.9% in the 1st quarter. Schroder Investment Management Group now owns 1,045,545 shares of the aerospace company’s stock worth $58,551,000 after buying an additional 29,714 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Hexcel by 9.3% in the first quarter. Principal Financial Group Inc. now owns 376,249 shares of the aerospace company’s stock valued at $21,070,000 after buying an additional 31,886 shares during the period. Virtu Financial LLC bought a new position in Hexcel during the first quarter valued at about $283,000. Finally, Earnest Partners LLC grew its holdings in Hexcel by 6.6% during the first quarter. Earnest Partners LLC now owns 3,960,962 shares of the aerospace company’s stock worth $221,814,000 after acquiring an additional 244,739 shares during the period. Institutional investors and hedge funds own 98.19% of the company’s stock.
In related news, insider Thierry Merlot sold 1,580 shares of the stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $56.26, for a total value of $88,890.80. Following the completion of the transaction, the insider now directly owns 34,025 shares of the company’s stock, valued at approximately $1,914,246.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.39% of the company’s stock.
Hexcel Company Profile
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 automotive, marine, and trains.
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