Zacks Investment Research Lowers Hexcel (HXL) to Sell

Hexcel (NYSE:HXL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

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HXL has been the subject of several other reports. Stephens initiated coverage on shares of Hexcel in a research report on Wednesday, December 6th. They set an “overweight” rating and a $74.00 price objective for the company. Canaccord Genuity boosted their price objective on shares of Hexcel from $64.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, January 26th. Credit Suisse Group restated a “neutral” rating and set a $67.00 price objective (up from $60.00) on shares of Hexcel in a research report on Wednesday, December 13th. Loop Capital set a $64.00 price objective on shares of Hexcel and gave the company a “hold” rating in a research report on Thursday, December 14th. Finally, Barclays initiated coverage on shares of Hexcel in a research report on Thursday, March 29th. They set an “equal weight” rating and a $69.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.75.

Shares of NYSE HXL traded down $1.06 during midday trading on Wednesday, reaching $64.82. The company’s stock had a trading volume of 83,662 shares, compared to its average volume of 545,052. Hexcel has a fifty-two week low of $49.20 and a fifty-two week high of $69.52. The company has a market cap of $5,846.96, a price-to-earnings ratio of 24.13, a PEG ratio of 2.55 and a beta of 1.17. The company has a current ratio of 2.51, a quick ratio of 1.31 and a debt-to-equity ratio of 0.54.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Hexcel had a net margin of 14.39% and a return on equity of 17.86%. The business had revenue of $511.70 million during the quarter, compared to the consensus estimate of $506.70 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. equities research analysts forecast that Hexcel will post 3.02 earnings per share for the current year.

In other news, CEO Nick L. Stanage sold 27,174 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $64.01, for a total transaction of $1,739,407.74. Following the completion of the transaction, the chief executive officer now directly owns 181,637 shares in the company, valued at $11,626,584.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. American International Group Inc. acquired a new position in shares of Hexcel during the fourth quarter worth $126,000. Captrust Financial Advisors acquired a new position in shares of Hexcel during the fourth quarter worth $130,000. SG Americas Securities LLC acquired a new position in shares of Hexcel during the fourth quarter worth $136,000. Fieldpoint Private Securities LLC acquired a new position in shares of Hexcel during the third quarter worth $142,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Hexcel by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock worth $163,000 after buying an additional 200 shares in the last quarter. Institutional investors own 95.70% 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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