Hexcel (NYSE:HXL) Price Target Cut to $90.00 by Analysts at Truist Financial

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

Several other brokerages have also recently issued reports on HXL. Royal Bank of Canada reissued an outperform rating and set a $80.00 price objective on shares of Hexcel in a research note on Wednesday, February 21st. Bank of America reaffirmed an underperform rating and set a $65.00 price target (down from $75.00) on shares of Hexcel in a research report on Wednesday, April 10th. UBS Group cut shares of Hexcel from a buy rating to a neutral rating and decreased their price target for the stock from $87.00 to $72.00 in a research report on Tuesday, January 30th. BMO Capital Markets upped their price target on shares of Hexcel from $69.00 to $73.00 and gave the stock a market perform rating in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Hexcel from $69.00 to $78.00 and gave the stock a neutral rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $76.50.

Hexcel Trading Up 0.5 %

Shares of HXL opened at $61.71 on Friday. The stock has a fifty day moving average of $71.37 and a two-hundred day moving average of $69.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. The company has a market capitalization of $5.13 billion, a PE ratio of 49.77, a price-to-earnings-growth 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.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company had revenue of $457.50 million for the quarter, compared to analysts’ expectations of $474.01 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts forecast that Hexcel will post 2.23 EPS for the current year.

Hexcel Increases Dividend

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

Insider Activity

In related news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following 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 is available through this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following 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 is available through this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following 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. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Hexcel

A number of hedge funds have recently made changes to their positions in HXL. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Hexcel by 12.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock valued at $492,000 after buying an additional 922 shares during the last quarter. US Bancorp DE raised its holdings in shares of Hexcel by 17.0% during the first quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock valued at $658,000 after buying an additional 1,609 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Hexcel by 10.6% during the first quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock valued at $1,017,000 after buying an additional 1,641 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Hexcel by 18.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock valued at $1,000,000 after buying an additional 2,567 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Hexcel by 22.7% during the first quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock valued at $2,087,000 after buying an additional 6,443 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

About Hexcel

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.