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

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

HXL has been the topic of several other research reports. Wells Fargo & Company boosted their price target on Hexcel from $78.00 to $81.00 and gave the company an equal weight rating in a research note on Wednesday, February 21st. Morgan Stanley downgraded Hexcel from an equal weight rating to an underweight rating and dropped their price target for the company from $70.00 to $66.00 in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated an outperform rating and set a $80.00 price target on shares of Hexcel in a research note on Wednesday, February 21st. Barclays dropped their price target on Hexcel from $80.00 to $75.00 and set an equal weight rating on the stock in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded Hexcel from a buy rating to a hold rating in a research note on Saturday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $76.50.

Hexcel Stock Up 0.5 %

Shares of HXL stock opened at $61.71 on Friday. Hexcel has a 1-year low of $58.81 and a 1-year high of $79.08. The stock’s fifty day moving average price is $71.37 and its 200 day moving average price is $69.52. 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 company has a market cap of $5.13 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23.

Hexcel (NYSE:HXL) last announced its earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The business had revenue of $457.50 million for the quarter, compared to analysts’ expectations of $474.01 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Hexcel will post 2.23 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. This is a boost from Hexcel’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, February 8th. Hexcel’s dividend payout ratio is 48.39%.

Insiders Place Their Bets

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction 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 $243,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction 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 sale, the insider now directly owns 50,371 shares in the company, valued at $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the 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 $243,337.50. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

Institutional Trading of Hexcel

Hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co raised its stake in shares of Hexcel by 68.1% in the third quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 179 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in Hexcel in the fourth quarter valued at $30,000. Creative Planning acquired a new stake in Hexcel in the third quarter valued at $30,000. Point72 Asset Management L.P. acquired a new stake in Hexcel in the second quarter valued at $31,000. Finally, RiverPark Advisors LLC acquired a new stake in Hexcel in the third quarter valued at $41,000. 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.