Hexcel (NYSE:HXL) Stock Price Down 3.5% – Time to Sell?

Hexcel Co. (NYSE:HXL)’s stock price was down 3.5% during mid-day trading on Friday . The stock traded as low as $68.12 and last traded at $68.20. Approximately 570,556 shares changed hands during trading, a decline of 58% from the average daily volume of 1,366,601 shares. The stock had previously closed at $70.69.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group increased their price objective on shares of Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Truist Financial boosted their price target on shares of Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their target price 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 issued a buy rating to the stock. According to MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus price target of $73.25.

Hexcel Stock Performance

The stock’s 50-day moving average is $63.57 and its 200 day moving average is $62.69. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The firm has a market cap of $5.48 billion, a P/E ratio of 42.53, a PEG ratio of 1.94 and a beta of 1.30.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a return on equity of 10.55% and a net margin of 6.94%. On average, research analysts predict that Hexcel Co. will post 2.34 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 7th. 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 dividend yield of 1.00%. Hexcel’s dividend payout ratio (DPR) is presently 37.74%.

Hedge Funds Weigh In On Hexcel

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after buying an additional 1,246,765 shares in the last quarter. Millennium Management LLC boosted its holdings in Hexcel by 307.1% in the 2nd 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 period. D. E. Shaw & Co. Inc. grew its position in Hexcel by 215.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock worth $54,034,000 after buying an additional 590,975 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Hexcel by 1,153.9% during the 4th quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock valued at $33,546,000 after acquiring an additional 493,218 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 worth $98,966,000 after purchasing an additional 425,402 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

About Hexcel

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.