Hexcel (NYSE:HXL) Downgraded by Vertical Research to “Hold”

Vertical Research downgraded shares of Hexcel (NYSE:HXL) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $65.00 price objective on the aerospace company’s stock.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Hexcel from $65.00 to $62.00 and set a hold rating for the company in a research note on Thursday, October 3rd. Truist Financial reduced their price objective on Hexcel from $88.00 to $81.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Stifel Nicolaus lowered their target price on Hexcel from $86.00 to $84.00 and set a buy rating for the company in a research note on Tuesday, July 2nd. UBS Group dropped their target price on Hexcel from $73.00 to $71.00 and set a neutral rating for the company in a report on Monday, July 1st. Finally, Morgan Stanley decreased their price target on Hexcel from $63.00 to $61.00 and set an underweight rating on the stock in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hexcel presently has a consensus rating of Hold and a consensus target price of $73.46.

Hexcel Price Performance

Shares of HXL traded up $1.54 during trading hours on Thursday, reaching $60.25. 63,398 shares of the company’s stock traded hands, compared to its average volume of 864,057. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $61.55 and its 200-day simple moving average is $64.95. The stock has a market cap of $4.93 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. Hexcel has a 12 month low of $57.50 and a 12 month high of $77.09.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. Equities analysts expect that Hexcel will post 2.05 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio is presently 47.24%.

Institutional Investors Weigh In On Hexcel

Several hedge funds have recently bought and sold shares of HXL. Inspire Investing LLC grew its stake in shares of Hexcel by 19.7% in the 3rd quarter. Inspire Investing LLC now owns 6,682 shares of the aerospace company’s stock worth $413,000 after buying an additional 1,098 shares during the last quarter. CWM LLC grew its stake in shares of Hexcel by 29.7% in the third quarter. CWM LLC now owns 17,131 shares of the aerospace company’s stock worth $1,059,000 after acquiring an additional 3,922 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Hexcel by 30.9% during the third quarter. Handelsbanken Fonder AB now owns 6,774 shares of the aerospace company’s stock valued at $419,000 after acquiring an additional 1,600 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Hexcel in the 3rd quarter worth about $155,000. Finally, Sanctuary Advisors LLC bought a new position in Hexcel in the 2nd quarter worth about $1,331,000. 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.