Hexcel (NYSE:HXL) Downgraded to “Neutral” at Northcoast Research

Northcoast Research cut shares of Hexcel (NYSE:HXL) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

HXL has been the topic of a number of other research reports. Truist Financial raised shares of Hexcel from a hold rating to a buy rating and boosted their price objective for the stock from $62.00 to $96.00 in a report on Wednesday, January 10th. UBS Group downgraded shares of Hexcel from a buy rating to a neutral rating and decreased their price objective for the stock from $87.00 to $72.00 in a report on Tuesday, January 30th. Wells Fargo & Company boosted their price objective on shares of Hexcel from $78.00 to $81.00 and gave the stock an equal weight rating in a report on Wednesday, February 21st. BMO Capital Markets upped their price target on shares of Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a report on Thursday, February 22nd. Finally, Barclays reduced their price target on shares of Hexcel from $80.00 to $75.00 and set an equal weight rating on the stock in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $76.57.

Hexcel Stock Down 12.3 %

Shares of NYSE:HXL opened at $62.39 on Wednesday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 1.47 and a beta of 1.23. The firm’s 50-day simple moving average is $72.46 and its 200-day simple moving average is $69.72. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08.

Hexcel (NYSE:HXL) last issued its earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $474.01 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Hexcel will post 2.25 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Hexcel’s previous quarterly dividend of $0.13. Hexcel’s payout ratio is currently 48.39%.

Insider Activity

In other news, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On Hexcel

Several institutional investors and hedge funds have recently bought and sold shares of HXL. Raymond James Financial Services Advisors Inc. increased its position in Hexcel by 12.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock worth $492,000 after purchasing an additional 922 shares during the last quarter. US Bancorp DE increased its position in shares of Hexcel by 17.0% in the first quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock worth $658,000 after acquiring an additional 1,609 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Hexcel by 10.6% in the first quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock worth $1,017,000 after acquiring an additional 1,641 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Hexcel by 18.0% in the first quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock worth $1,000,000 after acquiring an additional 2,567 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Hexcel by 22.7% in the first quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock worth $2,087,000 after acquiring an additional 6,443 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

About Hexcel

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.