Hexcel (NYSE:HXL) Downgraded by Zacks Investment Research to Sell

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.

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About Hexcel

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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