Hexcel (NYSE:HXL) Sets New 12-Month Low on Analyst Downgrade

Hexcel Co. (NYSE:HXL) reached a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $75.00 to $68.00. Barclays currently has an equal weight rating on the stock. Hexcel traded as low as $51.84 and last traded at $55.43, with a volume of 120 shares traded. The stock had previously closed at $56.31.

Other research analysts also recently issued research reports about the stock. TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Monday, February 24th. Royal Bank of Canada boosted their price objective on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Truist Financial reduced their price target on shares of Hexcel from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, March 28th. Wells Fargo & Company lifted their target price on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its stake in shares of Hexcel by 1,069.8% in the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock worth $42,000 after acquiring an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Hexcel during the 4th quarter worth $49,000. Manchester Capital Management LLC boosted its position in Hexcel by 100.0% in the 4th quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock valued at $53,000 after buying an additional 420 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Hexcel in the 4th quarter valued at $57,000. Finally, Parvin Asset Management LLC acquired a new stake in Hexcel in the fourth quarter worth about $66,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Hexcel Stock Performance

The firm’s 50-day moving average price is $61.72 and its 200 day moving average price is $62.09. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21.

Hexcel (NYSE:HXL) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. On average, sell-side analysts anticipate that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.17 dividend. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. Hexcel’s payout ratio is 42.77%.

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.