Janney Montgomery Scott LLC trimmed its position in Hexcel Co. (NYSE:HXL) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,429 shares of the aerospace company’s stock after selling 1,958 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of Hexcel worth $2,162,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aigen Investment Management LP increased its stake in Hexcel by 270.5% in the 3rd quarter. Aigen Investment Management LP now owns 83,924 shares of the aerospace company’s stock worth $2,816,000 after buying an additional 61,274 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Hexcel by 4.2% in the third quarter. California Public Employees Retirement System now owns 196,553 shares of the aerospace company’s stock valued at $6,594,000 after acquiring an additional 7,988 shares in the last quarter. First Trust Advisors LP grew its position in shares of Hexcel by 26.6% during the third quarter. First Trust Advisors LP now owns 83,007 shares of the aerospace company’s stock worth $2,785,000 after purchasing an additional 17,449 shares in the last quarter. Raymond James & Associates raised its stake in Hexcel by 14.7% during the 3rd quarter. Raymond James & Associates now owns 219,028 shares of the aerospace company’s stock valued at $7,348,000 after purchasing an additional 28,074 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in Hexcel by 5.4% in the 3rd quarter. Park Avenue Securities LLC now owns 6,824 shares of the aerospace company’s stock worth $229,000 after purchasing an additional 351 shares in the last quarter.
Shares of NYSE:HXL opened at $48.36 on Friday. The company has a current ratio of 3.28, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67. Hexcel Co. has a 12 month low of $24.54 and a 12 month high of $80.57. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 15.41 and a beta of 1.20. The firm’s 50-day moving average is $37.68 and its 200 day moving average is $38.92.
Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 19th. The aerospace company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.36). Hexcel had a net margin of 7.02% and a return on equity of 7.52%. The business had revenue of $286.90 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter last year, the firm earned $0.90 EPS. The firm’s quarterly revenue was down 49.9% on a year-over-year basis. As a group, equities analysts forecast that Hexcel Co. will post 0.39 EPS for the current fiscal year.
Several equities analysts recently weighed in on the stock. ValuEngine raised shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, November 2nd. Wells Fargo & Company reduced their target price on Hexcel from $47.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Wolfe Research lowered Hexcel from a “peer perform” rating to an “underperform” rating and set a $27.00 price target for the company. in a research note on Thursday, September 24th. Royal Bank of Canada reduced their price objective on Hexcel from $42.00 to $37.00 in a research note on Wednesday, October 21st. Finally, Credit Suisse Group lowered their target price on Hexcel from $40.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Hexcel has an average rating of “Hold” and an average price target of $38.71.
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 in 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.
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