Hexcel (NYSE:HXL) Price Target Cut to $62.00

Hexcel (NYSE:HXL) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $65.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 2.85% from the company’s previous close.

A number of other research firms have also recently commented on HXL. BMO Capital Markets decreased their target price on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Truist Financial lowered their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada cut Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Morgan Stanley lowered their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Finally, Stifel Nicolaus cut their price target on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Hexcel Stock Performance

Shares of NYSE:HXL opened at $60.28 on Thursday. The firm has a 50 day moving average of $62.09 and a 200 day moving average of $65.38. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. Hexcel has a 52 week low of $58.54 and a 52 week 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 the consensus estimate of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm had revenue of $500.40 million during the quarter, compared to analyst estimates of $484.26 million. During the same period in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Hexcel will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Hexcel during the 1st quarter valued at about $36,000. Centerpoint Advisors LLC grew its holdings in Hexcel by 44.6% in the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Hexcel in the first quarter valued at approximately $54,000. GAMMA Investing LLC raised its stake in shares of Hexcel by 34.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after buying an additional 276 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Hexcel during the 1st quarter valued at approximately $119,000. Institutional investors and hedge funds 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.