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Hexcel Co. (NYSE:HXL) Receives Average Recommendation of "Hold" From Brokerages

Defense World · Sep 23, 2022 02:31

Hexcel Co. (NYSE:HXL – Get Rating) has received a consensus recommendation of "Hold" from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $59.20.

HXL has been the subject of several recent research reports. BMO Capital Markets upped their price target on Hexcel from $57.00 to $66.00 and gave the stock a "market perform" rating in a report on Tuesday, August 2nd. StockNews.com downgraded Hexcel from a "buy" rating to a "hold" rating in a report on Thursday, September 15th. Morgan Stanley upgraded Hexcel from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $59.00 to $68.00 in a report on Thursday, September 8th. Wells Fargo & Company upped their price objective on Hexcel to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. Finally, Vertical Research upped their price objective on Hexcel to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th.

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Hexcel Stock Performance

Shares of HXL stock opened at $55.44 on Friday. Hexcel has a one year low of $46.77 and a one year high of $65.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.55 and a quick ratio of 1.55. The business's 50 day simple moving average is $59.77 and its 200 day simple moving average is $56.74. The stock has a market capitalization of $4.66 billion, a PE ratio of 51.81 and a beta of 1.25.

Hexcel (NYSE:HXL – Get Rating) last issued its earnings results on Monday, July 25th. The aerospace company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Hexcel had a return on equity of 4.79% and a net margin of 6.12%. The company had revenue of $393.00 million for the quarter, compared to analyst estimates of $391.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Hexcel's revenue for the quarter was up 22.7% on a year-over-year basis. As a group, research analysts forecast that Hexcel will post 1.2 earnings per share for the current year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.72%. Hexcel's payout ratio is currently 37.38%.

Insider Buying and Selling at Hexcel

In other Hexcel news, insider Thierry Merlot sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $60.83, for a total value of $152,075.00. Following the sale, the insider now owns 34,011 shares of the company's stock, valued at approximately $2,068,889.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.

Institutional Trading of Hexcel

Several institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in Hexcel by 23.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,778,628 shares of the aerospace company's stock worth $299,333,000 after acquiring an additional 1,111,217 shares during the last quarter. Canyon Capital Advisors LLC bought a new stake in shares of Hexcel in the 1st quarter worth approximately $53,660,000. Millennium Management LLC bought a new stake in shares of Hexcel in the 4th quarter worth approximately $32,083,000. BlackRock Inc. grew its position in shares of Hexcel by 6.0% in the 1st quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company's stock worth $500,755,000 after buying an additional 475,375 shares during the last quarter. Finally, Leeward Investments LLC MA bought a new stake in shares of Hexcel in the 1st quarter worth approximately $26,972,000. Hedge funds and other institutional investors own 97.56% of the company's stock.

About Hexcel

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Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.