Hexcel Corp. (HXL) Rating Lowered 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 research note issued to investors 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. “
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity set a $48.00 price objective on shares of Hexcel Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and issued a $44.00 price objective on shares of Hexcel Corp. in a research note on Wednesday, August 10th. Finally, Bank of America Corp. downgraded shares of Hexcel Corp. from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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 http://www.americanbankingnews.com/2016/10/18/hexcel-corp-hxl-rating-lowered-to-sell-at-zacks-investment-research.html
Hexcel Corp. (NYSE:HXL) traded up 1.14% during trading on Tuesday, hitting $42.52. The stock had a trading volume of 1,017,445 shares. The firm has a market cap of $3.93 billion, a PE ratio of 17.67 and a beta of 0.98. The company’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.
Hexcel Corp. (NYSE:HXL) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company earned $522.60 million during 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%. Hexcel Corp.’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities research analysts forecast that Hexcel Corp. will post $2.54 earnings per share for the current year.
In related news, Director David Charles Hill sold 1,188 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.47, for a total value of $52,830.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thierry Merlot sold 8,600 shares of the company’s 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 transaction, the insider now directly owns 26,413 shares in the company, valued at $1,188,849.13. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. purchased a new position in Hexcel Corp. during the second quarter valued at about $108,000. Sei Investments Co. raised its stake in Hexcel Corp. by 126.7% in the second quarter. Sei Investments Co. now owns 2,627 shares of the company’s stock valued at $109,000 after buying an additional 1,468 shares during the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in Hexcel Corp. during the second quarter valued at approximately $119,000. Conestoga Capital Advisors LLC acquired a new stake in Hexcel Corp. during the third quarter valued at approximately $208,000. Finally, Advisor Group Inc. acquired a new stake in Hexcel Corp. during the second quarter valued at approximately $207,000. 98.27% of the stock is currently 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.