Hexcel (NYSE:HXL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, December 19th.
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. “
Several other research firms have also recently weighed in on HXL. Loop Capital raised their price target on Hexcel from $61.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, October 24th. Bank of America raised their price target on Hexcel from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 20th. KeyCorp raised their price objective on Hexcel from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $67.00 price objective (up from $60.00) on shares of Hexcel in a research note on Wednesday, December 13th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Hexcel in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $63.00.
Hexcel (NYSE:HXL) traded up $1.58 during midday trading on Tuesday, reaching $64.05. The company’s stock had a trading volume of 476,935 shares, compared to its average volume of 676,779. The stock has a market cap of $5,750.00, a PE ratio of 23.12, a PEG ratio of 2.91 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 1.53. Hexcel has a fifty-two week low of $49.20 and a fifty-two week high of $64.33.
Hexcel (NYSE:HXL) last released its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to analysts’ expectations of $507.77 million. Hexcel had a return on equity of 18.40% and a net margin of 13.13%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. equities analysts predict that Hexcel will post 2.68 EPS for the current fiscal year.
In related news, CEO Nick L. Stanage sold 27,174 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $64.01, for a total transaction of $1,739,407.74. Following the completion of the sale, the chief executive officer now directly owns 181,637 shares of the company’s stock, valued at approximately $11,626,584.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kimberly A. Hendricks sold 2,608 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $63.35, for a total value of $165,216.80. Following the sale, the senior vice president now directly owns 22,221 shares of the company’s stock, valued at $1,407,700.35. The disclosure for this sale can be found here. Insiders sold a total of 103,971 shares of company stock valued at $6,501,241 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Hexcel by 5.0% during the 2nd quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock worth $259,946,000 after acquiring an additional 233,521 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Hexcel by 6.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,246,155 shares of the aerospace company’s stock worth $171,365,000 after acquiring an additional 199,893 shares during the last quarter. Broad Run Investment Management LLC lifted its stake in shares of Hexcel by 1.0% during the 2nd quarter. Broad Run Investment Management LLC now owns 2,980,460 shares of the aerospace company’s stock worth $157,338,000 after acquiring an additional 28,991 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Hexcel by 0.7% during the 3rd quarter. Earnest Partners LLC now owns 2,806,392 shares of the aerospace company’s stock worth $161,143,000 after acquiring an additional 18,602 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Hexcel by 7.8% during the 2nd quarter. State Street Corp now owns 2,325,125 shares of the aerospace company’s stock worth $122,742,000 after acquiring an additional 169,088 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/11/hexcel-hxl-downgraded-by-zacks-investment-research-to-sell.html.
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.
Get a free copy of the Zacks research report on Hexcel (HXL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hexcel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hexcel and related companies with MarketBeat.com's FREE daily email newsletter.