Wells Fargo & Company Increases Hexcel (NYSE:HXL) Price Target to $81.00

Hexcel (NYSE:HXL) had its price target upped by equities researchers at Wells Fargo & Company from $78.00 to $81.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 25.00% from the stock’s previous close.

HXL has been the subject of several other research reports. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, October 10th. UBS Group increased their target price on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. BMO Capital Markets dropped their target price on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Finally, Truist Financial dropped their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.83.

Hexcel Price Performance

HXL traded up $0.66 on Wednesday, hitting $64.80. 98,853 shares of the stock were exchanged, compared to its average volume of 861,165. Hexcel has a 12 month low of $57.50 and a 12 month high of $77.09. The business has a 50-day moving average of $61.45 and a two-hundred day moving average of $62.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.94 and a beta of 1.30.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Hexcel’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts forecast that Hexcel will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. raised its holdings in Hexcel by 15.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock worth $15,140,000 after purchasing an additional 32,960 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Hexcel by 12.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company’s stock valued at $35,957,000 after acquiring an additional 63,730 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Hexcel by 215.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after acquiring an additional 590,975 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Hexcel in the 2nd quarter valued at $250,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Hexcel by 232.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 98,122 shares of the aerospace company’s stock valued at $6,128,000 after acquiring an additional 68,622 shares in 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.