Hexcel Corporation (NYSE:HXL) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Hexcel Corporation (NYSE:HXL) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “HEXCEL CORP. is an international developer and manufacturer of lightweight, high-performance composite materials, parts and structures for use in the commercial aerospace, space and defense, recreation and general industrial markets. “
Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $50.00 price objective (down from $52.00) on shares of Hexcel Corporation in a research report on Tuesday, July 25th. Cowen and Company reaffirmed a buy rating and issued a $57.00 price objective on shares of Hexcel Corporation in a research report on Monday, July 24th. BidaskClub raised shares of Hexcel Corporation from a sell rating to a hold rating in a research report on Sunday, July 16th. Aegis reaffirmed a buy rating on shares of Hexcel Corporation in a research report on Wednesday, May 31st. Finally, Vertical Research cut shares of Hexcel Corporation from a buy rating to a hold rating and cut their price objective for the company from $58.00 to $54.00 in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $56.89.
Hexcel Corporation (NYSE:HXL) opened at 51.88 on Wednesday. The firm has a market capitalization of $4.66 billion, a P/E ratio of 19.00 and a beta of 1.04. The stock has a 50 day moving average of $52.81 and a 200-day moving average of $52.38. Hexcel Corporation has a 1-year low of $41.03 and a 1-year high of $55.91.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings data on Monday, July 24th. The aerospace company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by $0.02. The company had revenue of $491.30 million during the quarter, compared to the consensus estimate of $518.29 million. Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, equities research analysts anticipate that Hexcel Corporation will post $2.68 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, August 3rd will be paid a $0.125 dividend. This is a positive change from Hexcel Corporation’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, August 1st. Hexcel Corporation’s payout ratio is presently 16.12%.
Large investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in shares of Hexcel Corporation by 50.7% in the first quarter. Toronto Dominion Bank now owns 2,305 shares of the aerospace company’s stock valued at $126,000 after buying an additional 775 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Hexcel Corporation during the first quarter valued at about $219,000. World Asset Management Inc acquired a new stake in shares of Hexcel Corporation during the first quarter valued at about $224,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Hexcel Corporation during the first quarter valued at about $229,000. Finally, Princeton Alpha Management LP acquired a new stake in shares of Hexcel Corporation during the first quarter valued at about $244,000.
Hexcel Corporation Company Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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