Hexcel (NYSE:HXL) Price Target Lowered to $60.00 at Deutsche Bank Aktiengesellschaft

Hexcel (NYSE:HXL) had its price target cut by Deutsche Bank Aktiengesellschaft from $63.00 to $60.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

HXL has been the subject of several other reports. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Company increased their price objective on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets lowered their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Hexcel has an average rating of “Hold” and a consensus price target of $71.31.

Hexcel Stock Performance

HXL stock opened at $61.19 on Thursday. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 1.76 and a beta of 1.30. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $60.97 and its two-hundred day simple moving average is $63.54.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Analysts predict that Hexcel will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. Hexcel’s payout ratio is 45.80%.

Hedge Funds Weigh In On Hexcel

Several hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in Hexcel during the 3rd quarter valued at approximately $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Hexcel during the third quarter worth $56,000. First Horizon Advisors Inc. grew its holdings in shares of Hexcel by 53.8% during the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after buying an additional 326 shares during the last quarter. Huntington National Bank increased its position in shares of Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares during the period. Finally, Eastern Bank purchased a new position in Hexcel in the 3rd quarter worth $62,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Company Profile

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.