BMO Capital Markets Cuts Hexcel (NYSE:HXL) Price Target to $68.00

Hexcel (NYSE:HXL) had its price objective lowered by BMO Capital Markets from $70.00 to $68.00 in a report published on Monday, Benzinga reports. The brokerage currently has a market perform rating on the aerospace company’s stock.

Several other brokerages also recently commented on HXL. Morgan Stanley lowered their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus reduced their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. UBS Group boosted their target price on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.46.

Hexcel Stock Performance

HXL opened at $60.51 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.76. Hexcel has a 52-week low of $57.50 and a 52-week high of $77.09. The firm has a market cap of $4.90 billion, a P/E ratio of 46.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29. The business’s fifty day moving average is $61.60 and its 200-day moving average is $64.14.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Sell-side analysts expect that Hexcel will post 2.07 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Institutional Trading of Hexcel

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Hexcel by 86.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,785 shares of the aerospace company’s stock valued at $859,000 after buying an additional 5,476 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Hexcel by 64.3% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,836 shares of the aerospace company’s stock valued at $498,000 after acquiring an additional 2,676 shares during the last quarter. State of Michigan Retirement System increased its position in Hexcel by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 20,697 shares of the aerospace company’s stock valued at $1,508,000 after purchasing an additional 500 shares during the period. First Trust Direct Indexing L.P. raised its holdings in Hexcel by 11.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,501 shares of the aerospace company’s stock worth $255,000 after purchasing an additional 372 shares during the last quarter. Finally, Leeward Investments LLC MA lifted its position in shares of Hexcel by 0.3% in the 1st quarter. Leeward Investments LLC MA now owns 342,684 shares of the aerospace company’s stock worth $24,964,000 after purchasing an additional 889 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.