Zacks Investment Research upgraded shares of Hexcel Corporation (NYSE:HXL) from a sell rating to a hold rating in a research report sent to investors on Tuesday, October 17th.
According to Zacks, “HEXCEL CORP. is an international developer and manufacturer of lightweight, high-performance composite materials, parts and structures for use in the commercial aerospace, space and defense, recreation and general industrial markets. “
A number of other brokerages have also issued reports on HXL. Canaccord Genuity restated a hold rating and issued a $54.00 price target on shares of Hexcel Corporation in a research note on Friday, September 29th. Loop Capital initiated coverage on shares of Hexcel Corporation in a research note on Thursday, September 28th. They issued a hold rating and a $61.00 price target for the company. KeyCorp reiterated a buy rating and set a $60.00 target price on shares of Hexcel Corporation in a research note on Friday, September 1st. Jefferies Group LLC reiterated a hold rating and set a $50.00 target price on shares of Hexcel Corporation in a research note on Friday, September 29th. Finally, Vertical Research lowered shares of Hexcel Corporation from a buy rating to a hold rating and lowered their target price for the company from $58.00 to $54.00 in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $59.20.
Hexcel Corporation (HXL) traded up $0.17 during midday trading on Tuesday, hitting $61.72. 114,261 shares of the stock were exchanged, compared to its average volume of 793,229. Hexcel Corporation has a twelve month low of $44.72 and a twelve month high of $63.93. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5,528.76, a PE ratio of 23.49, a P/E/G ratio of 2.90 and a beta of 1.10.
Hexcel Corporation (NYSE:HXL) last issued its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to analyst estimates of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. equities analysts forecast that Hexcel Corporation will post 2.68 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, October 31st. Hexcel Corporation’s payout ratio is currently 18.05%.
In other Hexcel Corporation news, SVP Kimberly A. Hendricks sold 2,608 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $63.35, for a total value of $165,216.80. Following the completion of the sale, the senior vice president now directly owns 22,221 shares of the company’s stock, valued at approximately $1,407,700.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Hexcel Corporation by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 200 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Hexcel Corporation in the 2nd quarter valued at about $202,000. Pacad Investment Ltd. acquired a new position in shares of Hexcel Corporation in the 2nd quarter valued at about $206,000. AHL Partners LLP acquired a new position in shares of Hexcel Corporation in the 2nd quarter valued at about $207,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Hexcel Corporation in the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors own 96.50% of the company’s stock.
About Hexcel Corporation
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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