Hexcel (NYSE:HXL) Earns “Buy” Rating from Bank of America
Bank of America reiterated their buy rating on shares of Hexcel (NYSE:HXL) in a research report released on Wednesday, Briefing.com Automated Import reports. Bank of America currently has a $90.00 price target on the aerospace company’s stock, down from their prior price target of $95.00.
A number of other equities research analysts also recently weighed in on HXL. Barclays reaffirmed a hold rating and issued a $77.00 target price on shares of Hexcel in a research note on Sunday, May 26th. BMO Capital Markets reaffirmed an outperform rating and issued a $23.00 target price on shares of Mallinckrodt in a research note on Wednesday, May 22nd. Cowen reaffirmed an outperform rating and issued a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. KeyCorp raised their target price on shares of Visa from $190.00 to $195.00 and gave the company an overweight rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $81.78.
Shares of HXL opened at $83.42 on Wednesday. The company has a 50 day moving average of $79.73. The stock has a market capitalization of $7.10 billion, a P/E ratio of 27.35, a P/E/G ratio of 2.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.22 and a quick ratio of 1.28. Hexcel has a 1-year low of $53.50 and a 1-year high of $85.63.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 1st. This is an increase from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. Hexcel’s dividend payout ratio (DPR) is 19.67%.
In other Hexcel news, insider Kimberly A. Hendricks sold 3,500 shares of Hexcel stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $76.00, for a total transaction of $266,000.00. Following the transaction, the insider now directly owns 30,843 shares of the company’s stock, valued at $2,344,068. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Swords sold 20,395 shares of Hexcel stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $70.86, for a total transaction of $1,445,189.70. Following the transaction, the insider now directly owns 16,839 shares in the company, valued at $1,193,211.54. The disclosure for this sale can be found here. Insiders have sold 36,179 shares of company stock worth $2,600,947 over the last three months. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation N.A. purchased a new position in shares of Hexcel in the first quarter worth $45,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Hexcel in the second quarter worth $54,000. Machina Capital S.A.S. increased its stake in shares of Hexcel by 22.4% in the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock worth $60,000 after buying an additional 136 shares during the period. Pennsylvania Trust Co purchased a new position in shares of Hexcel in the first quarter worth $255,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Hexcel in the first quarter worth $68,000. 92.68% of the stock is currently owned by institutional investors.
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 cars, boats, and trains.
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