Hexcel (NYSE:HXL) Price Target Raised to $78.00

Hexcel (NYSE:HXL) had its price target increased by The Goldman Sachs Group from $69.00 to $78.00 in a research report report published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the aerospace company’s stock.

HXL has been the subject of a number of other research reports. Northcoast Research lowered Hexcel from a buy rating to a neutral rating in a research note on Wednesday, April 10th. BMO Capital Markets lifted their price objective on Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a research note on Thursday, February 22nd. Truist Financial upgraded Hexcel from a hold rating to a buy rating and lifted their price objective for the company from $62.00 to $96.00 in a research note on Wednesday, January 10th. Bank of America restated an underperform rating and issued a $65.00 price target (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Finally, Morgan Stanley lowered Hexcel from an equal weight rating to an underweight rating and cut their price target for the company from $70.00 to $66.00 in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $76.93.

Hexcel Stock Performance

Shares of HXL stock opened at $61.40 on Tuesday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 1.68. The business has a fifty day moving average of $71.60 and a 200 day moving average of $69.54. Hexcel has a 1 year low of $58.81 and a 1 year high of $79.08.

Hexcel (NYSE:HXL) last issued its earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (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 return on equity of 9.31% and a net margin of 5.91%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. As a group, research analysts expect that Hexcel will post 2.23 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.98%. This is a boost from Hexcel’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, February 8th. Hexcel’s payout ratio is presently 48.39%.

Insider Buying and Selling

In related news, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the sale, the insider now directly owns 50,371 shares in the company, valued at approximately $3,608,074.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now directly owns 3,375 shares in the company, valued at approximately $243,337.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the transaction, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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