Hexcel Corporation (HXL) Earns “Hold” Rating from Canaccord Genuity
Canaccord Genuity reissued their hold rating on shares of Hexcel Corporation (NYSE:HXL) in a report published on Tuesday. Canaccord Genuity currently has a $62.00 price target on the aerospace company’s stock.
“We spent a day on the road with Hexcel (HXL) management. The focus for HXL remains on the commercial OE cycle, and the cash conversion as build rates, notably on the new platforms (A350, 787, A320neo and 737 MAX) accelerate. HXL remains on track to hit its long-term FCF and revenue targets, and the recent move in the stock largely reflects the improved sentiment around the commercial cycle, bolstered by the 787- rate increase to 14/month, strong traffic, and renewed order activity, notably for Boeing. While HXL remains one of the best executing stocks in our universe, and we appreciate the straight-forward guidance and outlook, we are looking potential catalysts that can provide additional upside or improved sentiment. We are maintaining our HOLD rating and our $62 price target.”,” the firm’s analyst wrote.
Several other research firms have also recently issued reports on HXL. Zacks Investment Research cut shares of Hexcel Corporation from a buy rating to a hold rating in a research report on Wednesday, July 26th. Loop Capital initiated coverage on shares of Hexcel Corporation in a research report on Thursday, September 28th. They set a hold rating and a $61.00 price objective for the company. KeyCorp reaffirmed a buy rating and set a $60.00 price objective on shares of Hexcel Corporation in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and set a $50.00 price objective on shares of Hexcel Corporation in a research report on Friday, September 29th. Finally, Vertical Research cut shares of Hexcel Corporation from a buy rating to a hold rating and decreased their price objective for the stock from $58.00 to $54.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Hexcel Corporation currently has a consensus rating of Hold and an average target price of $60.00.
Shares of Hexcel Corporation (NYSE:HXL) traded down $0.67 during mid-day trading on Tuesday, reaching $59.15. 443,396 shares of the company’s stock traded hands, compared to its average volume of 592,670. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 1.53. Hexcel Corporation has a 52 week low of $48.10 and a 52 week high of $63.93. The stock has a market cap of $5,310.00, a PE ratio of 22.92, a PEG ratio of 2.83 and a beta of 1.10.
Hexcel Corporation (NYSE:HXL) last released its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to analysts’ expectations of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. sell-side analysts predict that Hexcel Corporation will post 2.68 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.50 dividend on an annualized basis and a yield of 0.85%. Hexcel Corporation’s dividend payout ratio (DPR) is presently 18.05%.
In other Hexcel Corporation news, insider Thierry Merlot sold 3,748 shares of Hexcel Corporation stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total value of $229,340.12. Following the transaction, the insider now directly owns 13,691 shares in the company, valued at $837,752.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kimberly A. Hendricks sold 2,608 shares of Hexcel Corporation stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $63.35, for a total transaction of $165,216.80. Following the completion of the transaction, the senior vice president now owns 22,221 shares in the company, valued at $1,407,700.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,304 shares of company stock valued at $823,040. 2.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fieldpoint Private Securities LLC acquired a new position in Hexcel Corporation in the third quarter valued at $142,000. The Manufacturers Life Insurance Company increased its stake in Hexcel Corporation by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 200 shares during the period. Tocqueville Asset Management L.P. acquired a new position in Hexcel Corporation in the third quarter valued at $207,000. Nomura Holdings Inc. acquired a new position in Hexcel Corporation in the second quarter valued at $202,000. Finally, World Asset Management Inc acquired a new position in Hexcel Corporation in the third quarter valued at $222,000. Institutional investors own 96.51% of the company’s stock.
Hexcel Corporation 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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