Hexcel (NYSE:HXL) Downgraded by Goldman Sachs Group

Goldman Sachs Group cut shares of Hexcel (NYSE:HXL) from a neutral rating to a sell rating in a report released on Friday, BenzingaRatingsTable reports. They currently have $73.00 price objective on the aerospace company’s stock.

A number of other brokerages have also weighed in on HXL. Canaccord Genuity boosted their price objective on Hexcel from $90.00 to $94.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on Hexcel from $84.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Cowen restated a buy rating and set a $75.00 price objective on shares of Hexcel in a research report on Wednesday, April 24th. Barclays reiterated a hold rating and issued a $77.00 price target on shares of Hexcel in a research report on Sunday, May 26th. Finally, UBS Group upgraded Hexcel from a sell rating to a neutral rating and upped their price target for the company from $67.00 to $76.00 in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $81.05.

Shares of HXL stock opened at $79.80 on Friday. The firm has a market capitalization of $6.85 billion, a P/E ratio of 26.16, a P/E/G ratio of 2.22 and a beta of 1.09. Hexcel has a twelve month low of $53.50 and a twelve month high of $85.63. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $81.05 and its 200 day simple moving average is $73.93.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, July 22nd. The aerospace company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $609.00 million for the quarter, compared to analyst estimates of $606.03 million. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. Hexcel’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, equities research analysts expect that Hexcel will post 3.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a dividend of $0.17 per share. This is an increase from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, August 1st. Hexcel’s dividend payout ratio is 22.30%.

In other news, insider Thierry Merlot sold 6,100 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $73.71, for a total value of $449,631.00. Following the completion of the sale, the insider now directly owns 33,864 shares of the company’s stock, valued at $2,496,115.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kimberly A. Hendricks sold 3,500 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $76.00, for a total value of $266,000.00. Following the completion of the sale, the insider now directly owns 30,843 shares of the company’s stock, valued at $2,344,068. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,333 shares of company stock worth $770,283. 1.40% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP acquired a new stake in shares of Hexcel during the fourth quarter worth about $370,000. Geode Capital Management LLC grew its holdings in shares of Hexcel by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 825,656 shares of the aerospace company’s stock worth $47,343,000 after buying an additional 38,230 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Hexcel by 41.1% during the fourth quarter. Deutsche Bank AG now owns 100,018 shares of the aerospace company’s stock worth $5,732,000 after buying an additional 29,118 shares in the last quarter. Pennsylvania Trust Co bought a new position in shares of Hexcel during the first quarter worth about $255,000. Finally, BTIM Corp. grew its holdings in shares of Hexcel by 6.8% during the first quarter. BTIM Corp. now owns 89,382 shares of the aerospace company’s stock worth $6,182,000 after buying an additional 5,652 shares in the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.

About Hexcel

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.

Further Reading: Operating Income

Analyst Recommendations for Hexcel (NYSE:HXL)

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