Truist Financial Cuts Hexcel (NYSE:HXL) Price Target to $73.00

Hexcel (NYSE:HXL) had its price target reduced by Truist Financial from $80.00 to $73.00 in a research note released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the aerospace company’s stock.

Other research analysts also recently issued reports about the stock. TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Monday, February 24th. Royal Bank of Canada upped their target price on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Morgan Stanley cut their price target on Hexcel from $61.00 to $50.00 and set an “underperform” rating on the stock in a research note on Friday, April 11th. StockNews.com downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Barclays cut their target price on shares of Hexcel from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.40.

Hexcel Stock Performance

NYSE:HXL opened at $52.03 on Thursday. Hexcel has a twelve month low of $45.28 and a twelve month high of $73.58. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $57.54 and its 200 day simple moving average is $61.11. The firm has a market capitalization of $4.18 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share 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%. On average, analysts anticipate that Hexcel will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.17 dividend. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, February 7th. Hexcel’s dividend payout ratio is currently 42.77%.

Hedge Funds Weigh In On Hexcel

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Willis Investment Counsel grew its holdings in Hexcel by 5.2% during the 1st quarter. Willis Investment Counsel now owns 17,730 shares of the aerospace company’s stock worth $971,000 after acquiring an additional 880 shares during the period. SG Americas Securities LLC bought a new stake in shares of Hexcel during the 1st quarter valued at about $281,000. GAMMA Investing LLC grew its stake in Hexcel by 95.3% during the first quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company’s stock worth $126,000 after purchasing an additional 1,125 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Hexcel by 4.1% in the first quarter. Harbor Capital Advisors Inc. now owns 26,023 shares of the aerospace company’s stock worth $1,425,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Hexcel by 71.2% in the first quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company’s stock valued at $66,000 after buying an additional 499 shares during the period. 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.