Hexcel (NYSE:HXL) Price Target Cut to $70.00

Hexcel (NYSE:HXL) had its price target lowered by Deutsche Bank Aktiengesellschaft from $71.00 to $70.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a hold rating on the aerospace company’s stock.

HXL has been the subject of several other reports. Stifel Nicolaus cut their price objective on Hexcel from $90.00 to $86.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Truist Financial reduced their price objective on Hexcel from $96.00 to $90.00 and set a buy rating for the company in a research note on Friday, April 19th. Bank of America reaffirmed an underperform rating and set a $65.00 target price (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Morgan Stanley lowered shares of 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. Finally, Barclays decreased their price target on shares of Hexcel from $80.00 to $75.00 and set an equal weight rating on the stock in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $76.57.

Hexcel Stock Up 0.4 %

Hexcel stock opened at $68.14 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.51. The stock has a market capitalization of $5.66 billion, a PE ratio of 58.24, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25. The business has a 50 day simple moving average of $69.85 and a 200-day simple moving average of $69.37. Hexcel has a 12 month low of $58.81 and a 12 month high of $79.08.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The company had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Hexcel will post 2.22 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s dividend payout ratio is presently 51.28%.

Insider Activity at Hexcel

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Thierry Merlot sold 4,500 shares of the firm’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 transaction, the insider now directly 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 is available at this link. Also, insider Gina Fitzsimons sold 864 shares of the business’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 completion of the sale, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 43,000 shares of company stock worth $2,792,990. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Hexcel

A number of hedge funds and other institutional investors have recently bought and sold shares of HXL. Vanguard Group Inc. lifted its position in shares of Hexcel by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,846,871 shares of the aerospace company’s stock worth $578,707,000 after purchasing an additional 27,850 shares in the last quarter. Earnest Partners LLC lifted its holdings in Hexcel by 1.1% during the 3rd quarter. Earnest Partners LLC now owns 4,344,230 shares of the aerospace company’s stock worth $282,983,000 after buying an additional 47,591 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Hexcel by 93.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,503,055 shares of the aerospace company’s stock valued at $110,850,000 after buying an additional 724,280 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Hexcel by 143.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock worth $108,146,000 after acquiring an additional 864,405 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Hexcel by 18.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,462,293 shares of the aerospace company’s stock worth $95,254,000 after acquiring an additional 231,207 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.