Barclays Cuts Hexcel (NYSE:HXL) Price Target to $68.00

Hexcel (NYSE:HXL) had its price target lowered by Barclays from $75.00 to $68.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

Several other research firms have also commented on HXL. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a report on Monday, March 17th. Royal Bank of Canada upped their price target on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Truist Financial reduced their price objective on Hexcel from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, March 28th. TD Cowen raised Hexcel to a “hold” rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised their price target on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Hexcel currently has an average rating of “Hold” and a consensus target price of $72.25.

Hexcel Stock Down 8.3 %

HXL stock opened at $51.41 on Tuesday. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. The business’s 50 day moving average price is $61.09 and its two-hundred day moving average price is $61.98. Hexcel has a fifty-two week low of $51.23 and a fifty-two week high of $73.58.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. As a group, analysts forecast that Hexcel will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.17 dividend. 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. Hexcel’s payout ratio is currently 42.77%.

Institutional Investors Weigh In On Hexcel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Centre Asset Management LLC lifted its holdings in shares of Hexcel by 13.1% during the 1st quarter. Centre Asset Management LLC now owns 141,614 shares of the aerospace company’s stock valued at $7,755,000 after buying an additional 16,351 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Hexcel by 698.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,356 shares of the aerospace company’s stock valued at $129,000 after acquiring an additional 2,061 shares during the last quarter. Mackenzie Financial Corp bought a new position in Hexcel in the fourth quarter valued at about $437,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hexcel by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,700 shares of the aerospace company’s stock worth $15,029,000 after purchasing an additional 24,057 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its stake in shares of 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 purchasing an additional 2,306 shares during the period. Hedge funds and other 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.