Hexcel (NYSE:HXL) Price Target Raised to $85.00 at Truist Financial

Hexcel (NYSE:HXL) had its price objective boosted by Truist Financial from $76.00 to $85.00 in a report issued on Friday,Benzinga reports. Truist Financial currently has a buy rating on the aerospace company’s stock.

Several other analysts have also issued reports on HXL. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. BMO Capital Markets dropped their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company boosted their target price on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada raised their price target on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.25.

Hexcel Stock Performance

Shares of NYSE:HXL opened at $67.48 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. Hexcel has a 12-month low of $57.50 and a 12-month high of $77.09. The company’s 50 day moving average price is $63.73 and its two-hundred day moving average price is $62.68. The firm has a market cap of $5.47 billion, a PE ratio of 42.44, a PEG ratio of 1.94 and a beta of 1.30.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Hexcel had a return on equity of 10.55% and a net margin of 6.94%. Equities research analysts predict that Hexcel will post 2.34 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.01%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is 42.77%.

Hedge Funds Weigh In On Hexcel

Several institutional investors have recently made changes to their positions in HXL. AQR Capital Management LLC lifted its position in Hexcel by 277.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after acquiring an additional 1,246,765 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hexcel by 36.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock valued at $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Copeland Capital Management LLC raised its position in Hexcel by 12.5% in the third quarter. Copeland Capital Management LLC now owns 1,161,415 shares of the aerospace company’s stock worth $71,810,000 after acquiring an additional 129,335 shares during the period. Millennium Management LLC lifted its stake in Hexcel by 307.1% in the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock valued at $67,421,000 after purchasing an additional 814,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hexcel by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,060,727 shares of the aerospace company’s stock worth $65,585,000 after acquiring an additional 10,479 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Hexcel Company Profile

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.