Hexcel (NYSE:HXL) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets downgraded shares of Hexcel (NYSE:HXL) from an outperform rating to a market perform rating in a research note published on Wednesday morning, Anlyst Ratings reports. The firm currently has $35.00 target price on the aerospace company’s stock, down from their previous target price of $40.00.

Several other research firms also recently weighed in on HXL. UBS Group downgraded shares of Hexcel from a neutral rating to a sell rating and upped their price objective for the stock from $31.00 to $32.00 in a report on Thursday, September 17th. Canaccord Genuity upped their target price on shares of Hexcel from $36.00 to $40.00 and gave the stock a hold rating in a research note on Wednesday, July 29th. Credit Suisse Group lowered shares of Hexcel from an outperform rating to a neutral rating and reduced their target price for the stock from $47.00 to $40.00 in a research note on Friday, October 9th. Wells Fargo & Company reduced their target price on shares of Hexcel from $47.00 to $42.00 and set an equal weight rating for the company in a research note on Tuesday, October 13th. Finally, Wolfe Research lowered shares of Hexcel from a peer perform rating to an underperform rating and set a $27.00 target price for the company. in a research note on Thursday, September 24th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $38.43.

HXL opened at $32.02 on Wednesday. The company has a current ratio of 3.86, a quick ratio of 2.42 and a debt-to-equity ratio of 0.88. The company’s fifty day moving average price is $36.91 and its two-hundred day moving average price is $37.92. Hexcel has a 1-year low of $24.54 and a 1-year high of $80.57. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 6.72 and a beta of 1.18.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Monday, October 19th. The aerospace company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.36). Hexcel had a return on equity of 14.73% and a net margin of 9.48%. The business had revenue of $286.90 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s quarterly revenue was down 49.9% on a year-over-year basis. As a group, equities analysts forecast that Hexcel will post 0.94 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV bought a new position in Hexcel in the second quarter worth about $55,000. Cerebellum GP LLC acquired a new position in shares of Hexcel during the 3rd quarter worth about $63,000. New York State Teachers Retirement System acquired a new position in shares of Hexcel during the 2nd quarter worth about $72,000. WASHINGTON TRUST Co raised its position in shares of Hexcel by 126.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,810 shares of the aerospace company’s stock worth $85,000 after purchasing an additional 1,010 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Hexcel by 70.2% during the 2nd quarter. First Bank & Trust now owns 2,236 shares of the aerospace company’s stock worth $101,000 after purchasing an additional 922 shares during the last quarter.

Hexcel Company Profile

Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.

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