Deutsche Bank Aktiengesellschaft Cuts Hexcel (NYSE:HXL) Price Target to $60.00

Hexcel (NYSE:HXL) had its price target cut by Deutsche Bank Aktiengesellschaft from $63.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the aerospace company’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 1.52% from the company’s current price.

Other research analysts also recently issued reports about the company. UBS Group increased their price objective on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Wells Fargo & Company upped their price objective on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial dropped their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.31.

Hexcel Price Performance

NYSE:HXL traded up $0.54 during trading hours on Thursday, reaching $59.10. 100,979 shares of the company were exchanged, compared to its average volume of 865,133. The stock’s 50-day moving average is $61.00 and its 200-day moving average is $63.75. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The firm has a market cap of $4.79 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. During the same period last year, the company posted $0.38 EPS. Hexcel’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Hexcel will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hexcel

A number of institutional investors have recently made changes to their positions in HXL. AQR Capital Management LLC boosted its position in shares of Hexcel by 277.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after purchasing an additional 1,246,765 shares during the period. Millennium Management LLC boosted its position in shares of Hexcel by 307.1% during the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock worth $67,421,000 after buying an additional 814,402 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after buying an additional 590,975 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of Hexcel by 280.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock valued at $45,107,000 after buying an additional 532,550 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Hexcel by 36.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock worth $98,966,000 after acquiring an additional 425,402 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.