Hexcel Co. (HXL) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Hexcel Co. (NYSE:HXL) from a hold rating to a sell rating in a report published on Thursday.
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. BidaskClub upgraded shares of Hexcel from a sell rating to a hold rating in a report on Sunday, July 16th. Aegis reiterated a buy rating on shares of Hexcel in a report on Wednesday, May 31st. Cowen and Company reiterated a buy rating and issued a $57.00 price objective on shares of Hexcel in a report on Tuesday, July 11th. Jefferies Group LLC reiterated a hold rating and issued a $50.00 price objective (down from $52.00) on shares of Hexcel in a report on Tuesday, July 25th. Finally, Vertical Research cut shares of Hexcel from a buy rating to a hold rating and reduced their target price for the stock from $58.00 to $54.00 in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Hexcel has a consensus rating of Hold and a consensus price target of $56.89.
Hexcel (HXL) traded up 0.30% during trading on Thursday, reaching $52.69. The company had a trading volume of 237,654 shares. The firm has a 50-day moving average of $53.07 and a 200-day moving average of $52.63. Hexcel has a 1-year low of $41.03 and a 1-year high of $55.91. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.30 and a beta of 1.04.
Hexcel (NYSE:HXL) last posted its quarterly earnings data 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 company had revenue of $491.30 million during the quarter, compared to the consensus estimate of $518.29 million. Hexcel had a net margin of 12.38% and a return on equity of 19.06%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, analysts anticipate that Hexcel will post $2.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 3rd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, August 1st. This is an increase from Hexcel’s previous quarterly dividend of $0.11. Hexcel’s dividend payout ratio is 18.32%.
Several large investors have recently modified their holdings of HXL. Bank of New York Mellon Corp increased its stake in shares of Hexcel by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 562,579 shares of the aerospace company’s stock valued at $30,689,000 after buying an additional 17,309 shares during the period. US Bancorp DE increased its stake in Hexcel by 5.1% in the first quarter. US Bancorp DE now owns 19,691 shares of the aerospace company’s stock worth $1,074,000 after buying an additional 955 shares during the last quarter. Tygh Capital Management Inc. increased its stake in Hexcel by 32.2% in the first quarter. Tygh Capital Management Inc. now owns 106,291 shares of the aerospace company’s stock worth $5,798,000 after buying an additional 25,871 shares during the last quarter. Princeton Alpha Management LP bought a new stake in Hexcel during the first quarter worth about $244,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Hexcel during the first quarter worth about $229,000.
Hexcel Company Profile
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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