Hexcel (NYSE:HXL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Hexcel (NYSE:HXL) from a buy rating to a hold rating in a report issued on Friday.

A number of other research firms also recently issued reports on HXL. Truist Financial lifted their price objective on shares of Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company lifted their target price on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada lifted their target price on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.09.

Hexcel Stock Performance

NYSE HXL opened at $58.30 on Friday. The company has a fifty day simple moving average of $64.47 and a 200 day simple moving average of $62.72. Hexcel has a 12-month low of $56.85 and a 12-month high of $77.08. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.73 billion, a P/E ratio of 36.67, a PEG ratio of 1.72 and a beta of 1.30.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. Sell-side analysts predict that Hexcel will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is presently 42.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in Hexcel during the 4th quarter valued at about $437,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hexcel by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,700 shares of the aerospace company’s stock valued at $15,029,000 after buying an additional 24,057 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Hexcel by 0.5% during the 4th quarter. Voloridge Investment Management LLC now owns 513,318 shares of the aerospace company’s stock valued at $32,185,000 after buying an additional 2,306 shares in the last quarter. Tidal Investments LLC purchased a new position in Hexcel during the 4th quarter valued at about $12,450,000. Finally, Strategic Wealth Partners Ltd. purchased a new position in Hexcel during the 4th quarter valued at about $1,168,000. Hedge funds and other 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.