Hexcel (NYSE:HXL) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Hexcel (NYSE:HXL) from a buy rating to a hold rating in a research report released on Friday.

HXL has been the subject of several other research reports. Truist Financial upped their target price on Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. TD Cowen upgraded Hexcel to a “hold” rating in a research report on Monday, February 24th. Royal Bank of Canada boosted their price objective on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price objective on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and an average price target of $73.09.

Hexcel Stock Up 0.4 %

Shares of HXL opened at $58.30 on Friday. The firm has a market cap of $4.73 billion, a P/E ratio of 36.67, a P/E/G ratio of 1.72 and a beta of 1.30. The stock has a 50 day simple moving average of $64.47 and a two-hundred day simple moving average of $62.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. Hexcel has a 1 year low of $56.85 and a 1 year high of $77.08.

Hexcel (NYSE:HXL) last issued its earnings results 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 10.66% and a net margin of 6.94%. On average, analysts forecast that Hexcel will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, February 7th. This is an increase from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is currently 42.77%.

Hedge Funds Weigh In On Hexcel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in Hexcel by 4,372.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,502,676 shares of the aerospace company’s stock worth $156,919,000 after purchasing an additional 2,446,716 shares in the last quarter. Norges Bank bought a new position in Hexcel in the fourth quarter worth $60,241,000. Brandes Investment Partners LP raised its holdings in Hexcel by 99.6% in the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company’s stock worth $81,803,000 after purchasing an additional 651,062 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Hexcel by 249.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company’s stock worth $51,142,000 after purchasing an additional 582,353 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in Hexcel by 1,153.9% in the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock worth $33,546,000 after purchasing an additional 493,218 shares in the last quarter. 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.