Wells Fargo & Company Boosts Hexcel (NYSE:HXL) Price Target to $78.00

Hexcel (NYSE:HXL) had its target price increased by Wells Fargo & Company from $77.00 to $78.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the aerospace company’s stock.

Several other equities research analysts have also commented on HXL. UBS Group reduced their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Morgan Stanley dropped their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Thursday, October 10th. Finally, Truist Financial lowered their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.62.

Hexcel Stock Down 0.5 %

Shares of Hexcel stock opened at $62.53 on Wednesday. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a quick ratio of 1.55, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $61.65 and its 200 day moving average is $64.21. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The firm had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Research analysts anticipate that Hexcel will post 2.07 EPS for the current year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, November 1st. Hexcel’s payout ratio is currently 45.80%.

Institutional Investors Weigh In On Hexcel

Several large investors have recently made changes to their positions in HXL. Price T Rowe Associates Inc. MD grew its holdings in Hexcel by 151.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock valued at $25,086,000 after buying an additional 207,434 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Hexcel by 32.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock worth $5,897,000 after purchasing an additional 19,736 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Hexcel during the first quarter valued at $1,109,000. Capital World Investors lifted its position in Hexcel by 16.4% during the first quarter. Capital World Investors now owns 885,547 shares of the aerospace company’s stock valued at $64,512,000 after purchasing an additional 124,900 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Hexcel by 6.7% in the 1st quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company’s stock worth $96,056,000 after buying an additional 82,473 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

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.