Zacks Investment Research upgraded shares of Hexcel Corporation (NYSE:HXL) from a sell rating to a hold rating in a research note published on Tuesday, October 17th.
According to Zacks, “HEXCEL CORP. is an international developer and manufacturer of lightweight, high-performance composite materials, parts and structures for use in the commercial aerospace, space and defense, recreation and general industrial markets. “
Other equities analysts have also issued reports about the stock. Jefferies Group LLC reiterated a hold rating and issued a $50.00 price objective (down from $52.00) on shares of Hexcel Corporation in a research report on Tuesday, July 25th. Cowen and Company reiterated a buy rating and issued a $57.00 price objective on shares of Hexcel Corporation in a research report on Wednesday, August 9th. BidaskClub lowered shares of Hexcel Corporation from a hold rating to a sell rating in a research report on Monday, July 31st. KeyCorp reiterated a buy rating and issued a $65.00 price objective on shares of Hexcel Corporation in a research report on Thursday, October 12th. Finally, Canaccord Genuity reiterated a hold rating and issued a $54.00 price objective on shares of Hexcel Corporation in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $59.20.
Hexcel Corporation (HXL) opened at 62.04 on Tuesday. The company’s 50 day moving average is $57.91 and its 200 day moving average is $53.69. The stock has a market cap of $5.57 billion, a PE ratio of 22.73 and a beta of 1.04. Hexcel Corporation has a 12 month low of $44.61 and a 12 month high of $63.93.
Hexcel Corporation (NYSE:HXL) last announced its earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $491.50 million for the quarter, compared to analyst estimates of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, analysts anticipate that Hexcel Corporation will post $2.68 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, November 1st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, October 31st. Hexcel Corporation’s dividend payout ratio (DPR) is 18.05%.
In other Hexcel Corporation news, SVP Kimberly A. Hendricks sold 2,608 shares of Hexcel Corporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $63.35, for a total value of $165,216.80. Following the completion of the sale, the senior vice president now owns 22,221 shares in the company, valued at approximately $1,407,700.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in HXL. UBS Asset Management Americas Inc. raised its position in shares of Hexcel Corporation by 7.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 61,837 shares of the aerospace company’s stock valued at $3,373,000 after purchasing an additional 4,334 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Hexcel Corporation by 137.5% in the 1st quarter. Ameriprise Financial Inc. now owns 84,919 shares of the aerospace company’s stock valued at $4,632,000 after purchasing an additional 49,164 shares in the last quarter. KBC Group NV raised its position in shares of Hexcel Corporation by 280.3% in the 1st quarter. KBC Group NV now owns 6,328 shares of the aerospace company’s stock valued at $345,000 after purchasing an additional 4,664 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Hexcel Corporation by 5.2% in the 1st quarter. Neuberger Berman Group LLC now owns 5,523 shares of the aerospace company’s stock valued at $301,000 after purchasing an additional 271 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Hexcel Corporation by 1.1% in the 1st quarter. Teachers Advisors LLC now owns 662,248 shares of the aerospace company’s stock valued at $36,126,000 after purchasing an additional 7,475 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.
Hexcel Corporation Company Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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