Hexcel (NYSE:HXL) Given New $73.00 Price Target at Truist Financial

Hexcel (NYSE:HXL) had its target price decreased by equities researchers at Truist Financial from $80.00 to $73.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price target suggests a potential upside of 40.29% from the stock’s previous close.

HXL has been the subject of a number of other research reports. Royal Bank of Canada lifted their price target on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company downgraded shares of Hexcel from an “overweight” rating to a “reduce” rating in a report on Tuesday. StockNews.com cut Hexcel from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. Finally, Barclays decreased their price objective on Hexcel from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.40.

Hexcel Price Performance

Shares of NYSE:HXL opened at $52.03 on Thursday. The company has a 50 day moving average of $57.26 and a 200 day moving average of $61.05. 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 stock has a market cap of $4.18 billion, a P/E ratio of 32.73, a P/E/G ratio of 1.72 and a beta of 1.08. Hexcel has a 12 month low of $45.28 and a 12 month high of $73.58.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. As a group, sell-side analysts forecast that Hexcel will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hexcel

A number of hedge funds have recently modified their holdings of HXL. Barclays PLC increased its stake in shares of Hexcel by 32.1% during the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after buying an additional 17,011 shares during the period. Sanctuary Advisors LLC increased its position in shares of Hexcel by 59.4% during the third quarter. Sanctuary Advisors LLC now owns 33,076 shares of the aerospace company’s stock valued at $2,024,000 after buying an additional 12,329 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Hexcel by 8.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 65,095 shares of the aerospace company’s stock worth $4,025,000 after buying an additional 5,173 shares during the period. GAMMA Investing LLC boosted its position in Hexcel by 21.1% during the 4th quarter. GAMMA Investing LLC now owns 1,181 shares of the aerospace company’s stock valued at $74,000 after acquiring an additional 206 shares in the last quarter. Finally, Centre Asset Management LLC purchased a new position in shares of Hexcel during the 4th quarter worth approximately $7,854,000. 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.