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

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

A number of other research firms have also commented on HXL. Morgan Stanley lowered their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Truist Financial cut their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. BMO Capital Markets decreased their price objective on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, September 30th. Finally, Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and an average price target of $71.62.

Hexcel Stock Performance

NYSE:HXL opened at $62.53 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.76. Hexcel has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The firm has a market cap of $5.06 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29. The business has a 50 day moving average price of $61.65 and a 200-day moving average price of $64.16.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Equities research analysts predict that Hexcel will post 2.07 earnings per share for the current year.

Hexcel Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HXL. 1620 Investment Advisors Inc. grew its stake in shares of Hexcel by 27.6% in the third quarter. 1620 Investment Advisors Inc. now owns 2,618 shares of the aerospace company’s stock worth $162,000 after acquiring an additional 567 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Hexcel by 2.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 225,878 shares of the aerospace company’s stock worth $13,966,000 after purchasing an additional 4,964 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Hexcel by 13.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,592 shares of the aerospace company’s stock worth $284,000 after purchasing an additional 535 shares in the last quarter. State of Alaska Department of Revenue grew its position in Hexcel by 3.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,492 shares of the aerospace company’s stock valued at $586,000 after purchasing an additional 340 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its holdings in Hexcel by 2.0% in the third quarter. Clear Harbor Asset Management LLC now owns 124,145 shares of the aerospace company’s stock worth $7,676,000 after buying an additional 2,485 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.