Hexcel (HXL) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Hexcel (NYSE:HXL) from a hold rating to a sell rating in a research note published on Tuesday.

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. “

A number of other research analysts have also weighed in on the company. KeyCorp reaffirmed a buy rating and set a $60.00 target price on shares of Hexcel in a report on Friday, September 1st. Bank of America lifted their target price on Hexcel from $65.00 to $70.00 and gave the company a buy rating in a report on Friday, October 20th. Canaccord Genuity reaffirmed a hold rating and set a $62.00 target price on shares of Hexcel in a report on Tuesday, November 14th. Jefferies Group reiterated a hold rating and set a $50.00 price target on shares of Hexcel in a research report on Friday, September 29th. Finally, Loop Capital lifted their price target on Hexcel from $61.00 to $64.00 and gave the company a hold rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $63.00.

Hexcel (NYSE HXL) opened at $61.57 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5,583.55, a PE ratio of 23.73, a price-to-earnings-growth ratio of 3.10 and a beta of 1.10. Hexcel has a twelve month low of $49.20 and a twelve month high of $63.93.

Hexcel (NYSE:HXL) last posted its earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to analyst estimates of $507.77 million. Hexcel had a return on equity of 18.40% and a net margin of 13.13%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. equities research analysts expect that Hexcel will post 2.68 earnings per share for the current fiscal year.

In related news, SVP Kimberly A. Hendricks sold 2,608 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $63.35, for a total value of $165,216.80. Following the completion of the sale, the senior vice president now owns 22,221 shares in the company, valued at approximately $1,407,700.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Swords sold 13,493 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $60.27, for a total value of $813,223.11. Following the completion of the sale, the insider now owns 20,202 shares of the company’s stock, valued at approximately $1,217,574.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,797 shares of company stock valued at $3,186,333. Corporate insiders own 2.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Hahn Capital Management LLC lifted its position in Hexcel by 1.0% in the 3rd quarter. Hahn Capital Management LLC now owns 810,227 shares of the aerospace company’s stock worth $46,523,000 after buying an additional 7,677 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Hexcel in the 3rd quarter worth approximately $142,000. California Public Employees Retirement System increased its stake in Hexcel by 9.1% in the 3rd quarter. California Public Employees Retirement System now owns 207,243 shares of the aerospace company’s stock worth $11,900,000 after purchasing an additional 17,343 shares during the period. Cubist Systematic Strategies LLC increased its stake in Hexcel by 390.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 13,866 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 11,038 shares during the period. Finally, Crestline Management LP purchased a new position in Hexcel in the 3rd quarter worth approximately $2,871,000. Institutional investors own 96.49% of the company’s stock.

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About Hexcel

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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