Hexcel (NYSE:HXL) Stock Price Down 3.5% – Here’s Why

Hexcel Co. (NYSE:HXL)’s stock price dropped 3.5% during mid-day trading on Friday . The company traded as low as $68.12 and last traded at $68.20. Approximately 570,556 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 1,366,601 shares. The stock had previously closed at $70.69.

Wall Street Analyst Weigh In

Several research firms have issued reports on HXL. BMO Capital Markets cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, October 28th. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. StockNews.com lowered Hexcel from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial lifted their price target on Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.25.

Hexcel Trading Down 4.3 %

The business’s 50-day moving average price is $63.57 and its two-hundred day moving average price is $62.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.94 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 the consensus estimate of $0.52. Hexcel had a return on equity of 10.55% and a net margin of 6.94%. Equities analysts expect that Hexcel Co. will post 2.34 earnings per share for the current year.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is currently 37.74%.

Institutional Trading of Hexcel

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of Hexcel in the third quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in Hexcel in the 3rd quarter valued at approximately $56,000. First Horizon Advisors Inc. increased its stake in shares of Hexcel by 53.8% in the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 326 shares during the last quarter. Huntington National Bank boosted its position in Hexcel by 30.8% during the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 225 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Hexcel in the third quarter valued at approximately $62,000. 95.47% of the stock is currently owned by institutional investors.

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.