Truist Financial Trims Hexcel (NYSE:HXL) Target Price to $90.00

Hexcel (NYSE:HXL) had its target price reduced by Truist Financial from $96.00 to $90.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the aerospace company’s stock.

A number of other research firms have also recently commented on HXL. Bank of America restated an underperform rating and issued a $65.00 target price (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an outperform rating and issued a $80.00 target price on shares of Hexcel in a report on Wednesday, February 21st. Barclays dropped their target price on Hexcel from $80.00 to $75.00 and set an equal weight rating on the stock in a report on Tuesday, January 30th. Stifel Nicolaus dropped their target price on Hexcel from $90.00 to $86.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Finally, Morgan Stanley downgraded Hexcel from an equal weight rating to an underweight rating and dropped their target price for the stock from $70.00 to $66.00 in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hexcel presently has a consensus rating of Hold and an average target price of $76.50.

Hexcel Price Performance

Shares of HXL stock opened at $61.71 on Friday. The firm has a market cap of $5.13 billion, a P/E ratio of 49.77, a P/E/G ratio of 1.27 and a beta of 1.23. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08. The business’s 50 day moving average price is $71.37 and its 200-day moving average price is $69.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, January 25th. The aerospace company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $474.01 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. On average, equities research analysts anticipate that Hexcel will post 2.22 earnings per share for the current year.

Hexcel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a dividend of $0.15 per share. This is an increase from Hexcel’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, February 8th. Hexcel’s dividend payout ratio is presently 48.39%.

Insider Activity at Hexcel

In related news, insider Thierry Merlot sold 4,500 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the completion of the sale, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the completion of the sale, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Institutional Trading of Hexcel

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC increased its position in Hexcel by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 53,624 shares of the aerospace company’s stock valued at $3,955,000 after acquiring an additional 143 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Hexcel by 2.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,294 shares of the aerospace company’s stock worth $498,000 after buying an additional 144 shares in the last quarter. Hsbc Holdings PLC increased its position in Hexcel by 3.9% in the fourth quarter. Hsbc Holdings PLC now owns 4,476 shares of the aerospace company’s stock worth $330,000 after buying an additional 170 shares in the last quarter. Integrated Investment Consultants LLC increased its position in Hexcel by 2.0% in the third quarter. Integrated Investment Consultants LLC now owns 9,219 shares of the aerospace company’s stock worth $601,000 after buying an additional 177 shares in the last quarter. Finally, Xponance Inc. increased its position in Hexcel by 1.8% in the fourth quarter. Xponance Inc. now owns 10,251 shares of the aerospace company’s stock worth $756,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Company Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.