StockNews.com Upgrades Hexcel (NYSE:HXL) to “Buy”

Hexcel (NYSE:HXL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

HXL has been the subject of several other research reports. Morgan Stanley decreased their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Truist Financial decreased their price objective on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. UBS Group decreased their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and an average price target of $71.77.

Hexcel Trading Up 0.2 %

HXL opened at $62.82 on Wednesday. The firm has a market cap of $5.22 billion, a P/E ratio of 53.69, a P/E/G ratio of 1.38 and a beta of 1.29. Hexcel has a 12 month low of $57.50 and a 12 month high of $77.09. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $61.65 and a 200 day moving average of $64.27.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. As a group, research analysts forecast that Hexcel will post 2.05 EPS for the current year.

Hedge Funds Weigh In On Hexcel

A number of large investors have recently bought and sold shares of HXL. AQR Capital Management LLC raised its stake in Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after buying an additional 1,246,765 shares in the last quarter. Millennium Management LLC raised its stake in Hexcel by 307.1% in the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock worth $67,421,000 after buying an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock worth $54,034,000 after purchasing an additional 590,975 shares during the last quarter. Ceredex Value Advisors LLC grew its holdings in Hexcel by 280.7% in the second quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock worth $45,107,000 after purchasing an additional 532,550 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Hexcel by 114.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock worth $31,786,000 after purchasing an additional 232,827 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

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.