Truist Financial Lowers Hexcel (NYSE:HXL) Price Target to $76.00

Hexcel (NYSE:HXL - Get Free Report) had its price target reduced by Truist Financial from $78.00 to $76.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a "buy" rating on the aerospace company's stock. Truist Financial's price target would suggest a potential upside of 21.17% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada cut shares of Hexcel from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. BMO Capital Markets dropped their price target on Hexcel from $71.00 to $70.00 and set a "market perform" rating for the company in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $65.00 to $62.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley dropped their target price on Hexcel from $63.00 to $61.00 and set an "underweight" rating for the company in a research report on Monday, July 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Hexcel from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $73.08.

Hexcel Price Performance

Shares of HXL traded up $0.47 during mid-day trading on Friday, reaching $62.72. 853,189 shares of the stock traded hands, compared to its average volume of 865,038. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. Hexcel has a 1 year low of $57.50 and a 1 year high of $77.09. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 53.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The firm has a fifty day moving average price of $61.54 and a 200 day moving average price of $64.49.

Hexcel (NYSE:HXL - Get Free Report) last announced its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. As a group, equities research analysts predict that Hexcel will post 2.05 earnings per share for the current year.

Hedge Funds Weigh In On Hexcel

Several hedge funds and other institutional investors have recently modified their holdings of HXL. Goldman Sachs Group Inc. raised its position in Hexcel by 4.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 282,893 shares of the aerospace company's stock valued at $20,863,000 after purchasing an additional 12,362 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Hexcel by 18.0% during the fourth quarter. Wellington Management Group LLP now owns 730,078 shares of the aerospace company's stock valued at $53,843,000 after acquiring an additional 111,198 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hexcel by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,846,871 shares of the aerospace company's stock worth $578,707,000 after acquiring an additional 27,850 shares during the period. Mather Group LLC. bought a new stake in Hexcel in the first quarter valued at $136,000. Finally, Fulton Bank N.A. increased its position in Hexcel by 12.0% during the 1st quarter. Fulton Bank N.A. now owns 3,782 shares of the aerospace company's stock valued at $276,000 after purchasing an additional 405 shares during the period. 95.47% of the stock is owned by institutional investors.

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.