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

Hexcel (NYSE:HXL) had its target price cut by Truist Financial from $80.00 to $73.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other research firms also recently issued reports on HXL. Royal Bank of Canada boosted their price objective on shares of Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Morgan Stanley lowered their price objective on Hexcel from $61.00 to $50.00 and set an “underperform” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut Hexcel from an “overweight” rating to a “reduce” rating in a research report on Tuesday. TD Cowen raised shares of Hexcel to a “hold” rating in a report on Monday, February 24th. Finally, StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hexcel presently has an average rating of “Hold” and a consensus price target of $67.40.

Hexcel Trading Down 0.1 %

Shares of NYSE HXL opened at $52.03 on Thursday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.72 and a beta of 1.08. The business has a 50 day simple moving average of $57.26 and a 200 day simple moving average of $61.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. Hexcel has a 52 week low of $45.28 and a 52 week high of $73.58.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. On average, research analysts predict that Hexcel will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

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

Institutional Investors Weigh In On Hexcel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HXL. Earnest Partners LLC grew its stake in shares of Hexcel by 0.8% during the fourth quarter. Earnest Partners LLC now owns 4,816,442 shares of the aerospace company’s stock valued at $301,991,000 after purchasing an additional 37,442 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Hexcel by 4,372.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,502,676 shares of the aerospace company’s stock worth $156,919,000 after buying an additional 2,446,716 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Hexcel by 24.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,996,363 shares of the aerospace company’s stock valued at $125,172,000 after buying an additional 395,744 shares during the last quarter. Sei Investments Co. increased its stake in shares of Hexcel by 9.0% in the 4th quarter. Sei Investments Co. now owns 1,482,249 shares of the aerospace company’s stock valued at $92,938,000 after buying an additional 122,281 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Hexcel by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,437,058 shares of the aerospace company’s stock worth $90,104,000 after acquiring an additional 24,393 shares during the last quarter. 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.