Hexcel Co. (NYSE:HXL) was the target of a large increase in short interest in November. As of November 29th, there was short interest totalling 2,680,000 shares, an increase of 13.6% from the November 14th total of 2,360,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average trading volume of 492,000 shares, the days-to-cover ratio is currently 5.4 days.
Several analysts have weighed in on HXL shares. ValuEngine cut Hexcel from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Wells Fargo & Co initiated coverage on Hexcel in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $85.00 price target on the stock. Bank of America cut Hexcel from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $95.00 to $80.00 in a research report on Tuesday, October 1st. Cowen set a $87.00 price target on Hexcel and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Goldman Sachs Group cut Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $82.21.
A number of hedge funds and other institutional investors have recently made changes to their positions in HXL. Johnson Financial Group Inc. purchased a new position in Hexcel in the 2nd quarter worth approximately $34,000. Steward Partners Investment Advisory LLC purchased a new position in Hexcel in the 2nd quarter worth approximately $54,000. Delta Asset Management LLC TN purchased a new position in Hexcel in the 3rd quarter worth approximately $57,000. NEXT Financial Group Inc raised its holdings in Hexcel by 46.4% in the 3rd quarter. NEXT Financial Group Inc now owns 751 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 238 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Hexcel by 134.7% in the 3rd quarter. Huntington National Bank now owns 1,216 shares of the aerospace company’s stock worth $100,000 after acquiring an additional 698 shares during the last quarter. Institutional investors own 96.43% of the company’s stock.
Shares of HXL traded up $0.22 during mid-day trading on Friday, reaching $77.75. The company had a trading volume of 277,506 shares, compared to its average volume of 417,556. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.21 and a current ratio of 2.22. The firm has a 50-day moving average price of $77.75 and a 200 day moving average price of $79.26. Hexcel has a 52 week low of $53.50 and a 52 week high of $87.00. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01.
Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Hexcel had a return on equity of 21.74% and a net margin of 12.73%. The firm had revenue of $572.50 million for the quarter, compared to analysts’ expectations of $598.88 million. During the same period in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Hexcel will post 3.53 earnings per share for the current fiscal year.
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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