Hexcel Corp. (HXL) Cut to Sell at Zacks Investment Research
Hexcel Corp. (NYSE:HXL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
A number of other brokerages also recently weighed in on HXL. Canaccord Genuity set a $48.00 price objective on shares of Hexcel Corp. and gave the company a “hold” rating in a research report on Wednesday, July 20th. Bank of America Corp. downgraded shares of Hexcel Corp. from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Friday, July 29th. Finally, Jefferies Group restated a “hold” rating and set a $44.00 price objective on shares of Hexcel Corp. in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.70.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/hexcel-corp-hxl-cut-to-sell-at-zacks-investment-research.html
Shares of Hexcel Corp. (NYSE:HXL) traded up 1.14% on Tuesday, reaching $42.52. 1,017,445 shares of the company’s stock traded hands. The firm’s 50-day moving average is $43.80 and its 200-day moving average is $43.71. Hexcel Corp. has a 52-week low of $37.54 and a 52-week high of $48.33. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 17.67 and a beta of 0.98.
Hexcel Corp. (NYSE:HXL) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. The company had revenue of $522.60 million for the quarter, compared to the consensus estimate of $504.31 million. Hexcel Corp. had a net margin of 11.87% and a return on equity of 19.06%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Analysts anticipate that Hexcel Corp. will post $2.54 EPS for the current fiscal year.
In other news, insider Thierry Merlot sold 8,600 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $45.01, for a total value of $387,086.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $1,188,849.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Charles Hill sold 1,188 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.47, for a total transaction of $52,830.36. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Moody Aldrich Partners LLC boosted its stake in shares of Hexcel Corp. by 10.3% in the third quarter. Moody Aldrich Partners LLC now owns 32,630 shares of the company’s stock worth $1,446,000 after buying an additional 3,040 shares during the period. Graybill Bartz & Assoc Ltd. boosted its position in Hexcel Corp. by 2.2% in the third quarter. Graybill Bartz & Assoc Ltd. now owns 53,485 shares of the company’s stock valued at $2,369,000 after buying an additional 1,135 shares during the last quarter. British Columbia Investment Management Corp boosted its position in Hexcel Corp. by 11.1% in the third quarter. British Columbia Investment Management Corp now owns 250,000 shares of the company’s stock valued at $11,075,000 after buying an additional 25,000 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in Hexcel Corp. during the third quarter valued at $208,000. Finally, Nomura Holdings Inc. bought a new position in Hexcel Corp. during the second quarter valued at $220,000. 98.27% of the stock is owned by hedge funds and other institutional investors.
About Hexcel Corp.
Hexcel Corporation is a composites company. The Company develops, manufactures and markets structural materials, including carbon fibers, reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and composite structures for use in commercial aerospace, space and defense and industrial markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hexcel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hexcel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.