Truist Financial Issues Positive Forecast for Hexcel (NYSE:HXL) Stock Price

Hexcel (NYSE:HXL) had its price target lifted by Truist Financial from $76.00 to $85.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Other research analysts have also recently issued research reports about the company. UBS Group raised their price target on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada increased their target price on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a report on Friday. Finally, Vertical Research cut 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus target price of $73.25.

Hexcel Stock Down 4.5 %

Shares of NYSE HXL opened at $67.48 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. Hexcel has a 52 week low of $57.50 and a 52 week high of $77.09. The firm has a 50-day moving average price of $63.73 and a 200 day moving average price of $62.71. 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 posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.55%. Equities research analysts anticipate that Hexcel will post 2.34 EPS for the current fiscal year.

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.01%. This is an increase from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 7th. Hexcel’s payout ratio is presently 37.74%.

Hedge Funds Weigh In On Hexcel

A number of large investors have recently modified their holdings of the company. Speece Thorson Capital Group Inc. lifted its holdings in shares of Hexcel by 15.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock valued at $15,140,000 after acquiring an additional 32,960 shares in the last quarter. Barclays PLC raised its position in Hexcel by 32.1% in the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after purchasing an additional 17,011 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Hexcel by 12.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company’s stock worth $35,957,000 after purchasing an additional 63,730 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Hexcel by 215.5% in 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 in the last quarter. Finally, FMR LLC raised its holdings in shares of Hexcel by 11.7% during the 3rd quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock valued at $4,791,000 after buying an additional 8,135 shares during the period. 95.47% of the stock is currently 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.