Truist Financial Lowers Hexcel (NYSE:HXL) Price Target to $90.00

Hexcel (NYSE:HXL) had its price target dropped by analysts at Truist Financial from $96.00 to $90.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price would indicate a potential upside of 45.80% from the company’s current price.

A number of other research firms also recently weighed in on HXL. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of Hexcel in a research note on Wednesday, February 21st. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. BMO Capital Markets upped their target price on shares of Hexcel from $69.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Bank of America reiterated an “underperform” rating and issued a $65.00 price target (down previously from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. Finally, Stifel Nicolaus reduced their price target on shares of Hexcel from $90.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Hexcel has an average rating of “Hold” and an average price target of $76.50.

Hexcel Price Performance

NYSE:HXL traded up $0.33 on Friday, reaching $61.73. The stock had a trading volume of 24,997 shares, compared to its average volume of 854,014. The company has a market capitalization of $5.13 billion, a P/E ratio of 49.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. Hexcel has a 1-year low of $58.81 and a 1-year high of $79.08. 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 fifty day moving average price of $71.60 and a 200-day moving average price of $69.54.

Hexcel (NYSE:HXL) last announced its earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $474.01 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Hexcel will post 2.23 EPS for the current year.

Insider Transactions at Hexcel

In other news, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the sale, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction dated Wednesday, February 14th. The shares were 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 approximately $243,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the completion of the sale, the insider now owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hexcel

Several hedge funds and other institutional investors have recently made changes to their positions in HXL. Raymond James Financial Services Advisors Inc. grew its holdings in Hexcel by 12.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock worth $492,000 after acquiring an additional 922 shares during the last quarter. US Bancorp DE grew its holdings in Hexcel by 17.0% during the 1st quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock worth $658,000 after acquiring an additional 1,609 shares during the last quarter. HighTower Advisors LLC grew its holdings in Hexcel by 10.6% during the 1st quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock worth $1,017,000 after acquiring an additional 1,641 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Hexcel by 18.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock worth $1,000,000 after acquiring an additional 2,567 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Hexcel by 22.7% during the 1st quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock worth $2,087,000 after acquiring an additional 6,443 shares during the last quarter. 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.