Royal Bank of Canada Lowers Hexcel (NYSE:HXL) to Sector Perform

Royal Bank of Canada cut shares of Hexcel (NYSE:HXL) from an outperform rating to a sector perform rating in a report published on Wednesday, Marketbeat reports. The brokerage currently has $68.00 price target on the aerospace company’s stock, down from their previous price target of $76.00.

Several other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Hexcel from $70.00 to $68.00 and set a hold rating for the company in a research note on Friday, June 28th. Truist Financial reduced their price objective on Hexcel from $88.00 to $81.00 and set a buy rating for the company in a research note on Wednesday, July 17th. BMO Capital Markets lowered their target price on shares of Hexcel from $73.00 to $71.00 and set a market perform rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company upgraded shares of Hexcel from an equal weight rating to an overweight rating and increased their target price for the company from $81.00 to $95.00 in a research report on Wednesday, May 8th. Finally, Morgan Stanley lowered their price target on shares of Hexcel from $63.00 to $61.00 and set an underweight rating on the stock in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Hexcel currently has an average rating of Hold and an average target price of $75.14.

Hexcel Stock Down 0.2 %

Hexcel stock opened at $62.58 on Wednesday. Hexcel has a 12 month low of $58.81 and a 12 month high of $77.09. The stock has a market capitalization of $5.20 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. The business has a 50 day simple moving average of $63.80 and a 200-day simple moving average of $67.95.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The company had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts anticipate that Hexcel will post 2.09 EPS for the current fiscal year.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a $0.15 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. Hexcel’s payout ratio is currently 51.28%.

Institutional Trading of Hexcel

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Trust Company N.A bought a new position in Hexcel during the 4th quarter worth $30,000. Fidelis Capital Partners LLC acquired a new stake in shares of Hexcel in the 1st quarter worth about $36,000. Principal Securities Inc. bought a new stake in Hexcel in the 4th quarter valued at about $51,000. GAMMA Investing LLC bought a new stake in Hexcel in the 4th quarter valued at about $53,000. Finally, Centerpoint Advisors LLC boosted its stake in Hexcel by 44.6% during the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 223 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.