Truist Financial Lowers Hexcel (NYSE:HXL) Price Target to $90.00

Hexcel (NYSE:HXL) had its price target dropped by equities researchers at Truist Financial from $96.00 to $90.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective indicates a potential upside of 45.80% from the stock’s current price.

Other analysts have also issued reports about the company. Stifel Nicolaus dropped their target price on Hexcel from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Northcoast Research lowered Hexcel from a “buy” rating to a “neutral” rating in a report on Wednesday, April 10th. Bank of America reissued an “underperform” rating and issued a $65.00 price objective (down from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. StockNews.com cut Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, The Goldman Sachs Group boosted their price target on Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.50.

Hexcel Stock Up 0.5 %

Shares of HXL traded up $0.33 during midday trading on Friday, reaching $61.73. 24,997 shares of the stock were exchanged, compared to its average volume of 854,014. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $71.60 and its two-hundred day moving average is $69.54. The company has a market capitalization of $5.13 billion, a P/E ratio of 49.77, a PEG ratio of 1.28 and a beta of 1.23.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business 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 company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that Hexcel will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the sale, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the transaction, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of the firm’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 value of $322,335.00. Following the transaction, the insider now owns 50,371 shares in the company, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hexcel

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in Hexcel in the 4th quarter valued at approximately $2,362,000. Ceredex Value Advisors LLC increased its position in Hexcel by 16.4% during the fourth quarter. Ceredex Value Advisors LLC now owns 217,202 shares of the aerospace company’s stock worth $16,019,000 after buying an additional 30,652 shares in the last quarter. Natixis Advisors L.P. increased its position in Hexcel by 6.3% during the third quarter. Natixis Advisors L.P. now owns 155,323 shares of the aerospace company’s stock worth $10,118,000 after buying an additional 9,242 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Hexcel during the third quarter worth $1,283,000. Finally, Public Employees Retirement System of Ohio increased its position in Hexcel by 73.5% during the third quarter. Public Employees Retirement System of Ohio now owns 66,141 shares of the aerospace company’s stock worth $4,308,000 after buying an additional 28,010 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.