Hexcel (NYSE:HXL) Reaches New 12-Month Low – What’s Next?

Hexcel Co. (NYSE:HXL) shares reached a new 52-week low on Wednesday . The stock traded as low as $58.47 and last traded at $58.74, with a volume of 15273 shares traded. The stock had previously closed at $59.51.

Analyst Ratings Changes

HXL has been the topic of several recent research reports. BMO Capital Markets decreased their price target on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, September 30th. Stifel Nicolaus reduced their price objective on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley reduced their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Truist Financial reduced their price objective on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, UBS Group reduced their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.46.

Hexcel Stock Down 1.1 %

The company has a market capitalization of $4.80 billion, a PE ratio of 46.22, a PEG ratio of 1.38 and a beta of 1.29. The company’s 50 day moving average is $61.55 and its two-hundred day moving average is $64.95. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Hexcel Co. will post 2.05 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a $0.15 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. Hexcel’s payout ratio is currently 47.24%.

Hedge Funds Weigh In On Hexcel

A number of institutional investors and hedge funds have recently made changes to their positions in HXL. AQR Capital Management LLC grew its stake in shares of Hexcel by 277.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after buying an additional 1,246,765 shares in the last quarter. Millennium Management LLC grew its stake in shares of Hexcel by 307.1% in the 2nd quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock worth $67,421,000 after buying an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Hexcel by 215.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock worth $54,034,000 after acquiring an additional 590,975 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Hexcel by 280.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock worth $45,107,000 after acquiring an additional 532,550 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Hexcel by 114.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock worth $31,786,000 after acquiring an additional 232,827 shares during 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.