Hexcel Co. (HXL) Lifted to Hold at Zacks Investment Research
Hexcel Co. (NYSE:HXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “
Several other research analysts have also recently issued reports on the stock. KeyCorp reissued a “buy” rating and set a $65.00 price target on shares of Hexcel in a report on Thursday, October 12th. Jefferies Group LLC reissued a “hold” rating and set a $50.00 price target on shares of Hexcel in a report on Friday, September 29th. Canaccord Genuity reissued a “hold” rating and set a $54.00 price target on shares of Hexcel in a report on Friday, September 29th. Loop Capital began coverage on shares of Hexcel in a report on Thursday, September 28th. They set a “hold” rating and a $61.00 price target for the company. Finally, Cowen and Company reissued a “buy” rating and set a $57.00 price target on shares of Hexcel in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $58.00.
Shares of Hexcel (HXL) traded down 1.41% during trading on Tuesday, hitting $58.55. The company had a trading volume of 570,201 shares. Hexcel has a 52-week low of $41.91 and a 52-week high of $60.41. The firm has a market capitalization of $5.26 billion, a P/E ratio of 21.45 and a beta of 1.04. The stock’s 50-day moving average is $56.34 and its 200 day moving average is $53.29.
Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, July 24th. The aerospace company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). The firm had revenue of $491.30 million for the quarter, compared to analysts’ expectations of $518.29 million. Hexcel had a return on equity of 19.06% and a net margin of 12.38%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Equities research analysts predict that Hexcel will post $2.68 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Torray LLC increased its stake in shares of Hexcel by 2.8% during the 2nd quarter. Torray LLC now owns 14,775 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 403 shares in the last quarter. BlackRock Inc. increased 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 purchasing an additional 233,521 shares in the last quarter. First National Bank of Hutchinson increased its stake in shares of Hexcel by 3.4% during the 2nd quarter. First National Bank of Hutchinson now owns 14,095 shares of the aerospace company’s stock worth $736,000 after purchasing an additional 465 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Hexcel by 11.6% during the 2nd quarter. Schroder Investment Management Group now owns 2,000,232 shares of the aerospace company’s stock worth $104,652,000 after purchasing an additional 208,439 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Hexcel by 13.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 28,200 shares of the aerospace company’s stock worth $1,490,000 after purchasing an additional 3,279 shares in the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.
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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