Bank of America Reiterates "Underperform" Rating for Hexcel (NYSE:HXL)

Bank of America restated their underperform rating on shares of Hexcel (NYSE:HXL - Free Report) in a research report released on Wednesday morning, MarketBeat Ratings reports. Bank of America currently has a $65.00 price objective on the aerospace company's stock, down from their previous price objective of $75.00.

A number of other brokerages have also recently commented on HXL. Barclays reduced their price objective on Hexcel from $80.00 to $75.00 and set an equal weight rating on the stock in a research note on Tuesday, January 30th. UBS Group lowered Hexcel from a buy rating to a neutral rating and lowered their target price for the company from $87.00 to $72.00 in a report on Tuesday, January 30th. BMO Capital Markets upped their target price on Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a report on Thursday, February 22nd. Morgan Stanley lowered Hexcel from an equal weight rating to an underweight rating and lowered their target price for the company from $70.00 to $66.00 in a report on Thursday, February 22nd. Finally, Truist Financial raised Hexcel from a hold rating to a buy rating and upped their target price for the company from $62.00 to $96.00 in a report on Wednesday, January 10th. 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. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $76.57.

Hexcel Trading Down 12.3 %

Shares of HXL stock traded down $8.76 during mid-day trading on Wednesday, hitting $62.39. 5,754,536 shares of the company's stock were exchanged, compared to its average volume of 813,514. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08. The stock has a 50-day simple moving average of $72.46 and a two-hundred day simple moving average of $69.72. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 1.47 and a beta of 1.23.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The business had revenue of $457.50 million for the quarter, compared to analyst estimates of $474.01 million. During the same quarter last year, the business earned $0.40 EPS. Hexcel's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts expect that Hexcel will post 2.25 EPS for the current fiscal year.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 8th. This is an increase from Hexcel's previous quarterly dividend of $0.13. Hexcel's dividend payout ratio is 48.39%.

Insider Activity

In other news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the sale, the insider now owns 3,375 shares in the company, valued at $243,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares of the company's stock, valued at $3,608,074.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The disclosure for this sale can be found here. Insiders own 1.85% of the company's stock.

Hedge Funds Weigh In On Hexcel

Several hedge funds have recently bought and sold shares of the business. CENTRAL TRUST Co grew its position in shares of Hexcel by 68.1% in the third quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 179 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Hexcel in the fourth quarter valued at about $30,000. Creative Planning bought a new stake in shares of Hexcel in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its stake in shares of Hexcel by 100.0% in the second quarter. Farther Finance Advisors LLC now owns 412 shares of the aerospace company's stock valued at $31,000 after buying an additional 206 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Hexcel during the second quarter worth about $31,000. 95.47% of the stock is 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.