Hexcel (NYSE:HXL) Upgraded to Hold at TD Cowen

TD Cowen upgraded shares of Hexcel (NYSE:HXL) to a hold rating in a report released on Thursday,Zacks.com reports.

HXL has been the subject of several other research reports. BMO Capital Markets decreased their price target on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Monday, October 28th. UBS Group increased their price objective on shares of Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Truist Financial dropped their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Thursday, October 10th. Finally, StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.33.

Hexcel Price Performance

HXL stock opened at $63.06 on Thursday. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 48.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. Hexcel has a 52-week low of $57.50 and a 52-week high of $77.09. The business has a fifty day moving average of $61.95 and a two-hundred day moving average of $62.65. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts anticipate that Hexcel will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Hexcel’s dividend payout ratio is presently 45.80%.

Institutional Trading of Hexcel

Several large investors have recently modified their holdings of HXL. AQR Capital Management LLC grew its holdings in Hexcel by 277.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after buying an additional 1,246,765 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Hexcel by 307.1% during the 2nd quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock worth $67,421,000 after purchasing an additional 814,402 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Hexcel by 215.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after buying an additional 590,975 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Hexcel by 36.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock worth $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in Hexcel by 34.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 973,352 shares of the aerospace company’s stock valued at $60,182,000 after buying an additional 251,062 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.