Hexcel (HXL) Hits New 52-Week High After Analyst Upgrade

Shares of Hexcel Co. (NYSE:HXL) hit a new 52-week high during mid-day trading on Wednesday after BMO Capital Markets raised their price target on the stock to $84.00. BMO Capital Markets currently has an outperform rating on the stock. Hexcel traded as high as $74.31 and last traded at $74.17, with a volume of 4932 shares. The stock had previously closed at $71.51.

HXL has been the subject of a number of other reports. Bank of America reaffirmed a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Hexcel in a research note on Friday, April 26th. ValuEngine downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Zacks Investment Research downgraded Hexcel from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Cowen reaffirmed a “buy” rating and issued a $66.00 target price on shares of Hexcel in a research note on Wednesday, January 23rd. Finally, Loop Capital downgraded Hexcel from a “buy” rating to a “hold” rating and set a $71.57 target price for the company. in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $75.96.

In other news, insider Timothy Swords sold 20,395 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 16,839 shares in the company, valued at approximately $1,193,211.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thierry Merlot sold 3,241 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $71.00, for a total value of $230,111.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,698 shares of company stock valued at $2,469,248. Company insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Dean Investment Associates LLC boosted its holdings in Hexcel by 1.0% during the 4th quarter. Dean Investment Associates LLC now owns 13,957 shares of the aerospace company’s stock valued at $800,000 after acquiring an additional 144 shares during the period. Whittier Trust Co. boosted its holdings in Hexcel by 51.7% during the 4th quarter. Whittier Trust Co. now owns 531 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 181 shares during the period. Advisor Group Inc. boosted its holdings in Hexcel by 2.2% during the 1st quarter. Advisor Group Inc. now owns 10,265 shares of the aerospace company’s stock valued at $711,000 after acquiring an additional 219 shares during the period. Private Capital Group LLC boosted its stake in shares of Hexcel by 15.2% in the 1st quarter. Private Capital Group LLC now owns 1,961 shares of the aerospace company’s stock valued at $136,000 after buying an additional 259 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Hexcel by 0.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 96,982 shares of the aerospace company’s stock valued at $6,707,000 after buying an additional 260 shares during the period. Institutional investors own 96.14% of the company’s stock.

The company has a quick ratio of 1.28, a current ratio of 2.24 and a debt-to-equity ratio of 0.85. The company has a market cap of $5.95 billion, a PE ratio of 24.36, a PEG ratio of 2.03 and a beta of 1.18.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The business had revenue of $609.90 million during the quarter, compared to analysts’ expectations of $590.13 million. Hexcel had a return on equity of 20.63% and a net margin of 12.71%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Analysts expect that Hexcel Co. will post 3.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, May 3rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, May 2nd. Hexcel’s payout ratio is presently 19.67%.

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About Hexcel (NYSE:HXL)

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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