Hexcel (NYSE:HXL) Stock Rating Upgraded by Royal Bank of Canada

Hexcel (NYSE:HXL) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $74.00 price target on the aerospace company’s stock, up from their previous price target of $68.00. Royal Bank of Canada’s price objective points to a potential upside of 18.34% from the company’s previous close.

A number of other research firms have also recently weighed in on HXL. UBS Group raised their price target on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. BMO Capital Markets decreased their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research note on Monday, October 28th. Truist Financial lowered their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Hexcel from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.33.

Hexcel Stock Performance

Shares of Hexcel stock opened at $62.53 on Thursday. The business has a 50-day simple moving average of $61.95 and a 200-day simple moving average of $62.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. Hexcel has a one year low of $57.50 and a one year high of $77.09. The company has a market cap of $5.07 billion, a PE ratio of 47.73, a P/E/G ratio of 1.96 and a beta of 1.30.

Hexcel (NYSE:HXL) last posted 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. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Hexcel will post 2.02 EPS for the current fiscal year.

Institutional Trading of Hexcel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of Hexcel during the third quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in Hexcel in the 3rd quarter valued at $56,000. First Horizon Advisors Inc. increased its stake in Hexcel by 53.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after buying an additional 326 shares during the period. Huntington National Bank raised its position in Hexcel by 30.8% during the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after buying an additional 225 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Hexcel in the 3rd quarter worth $62,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Company Profile

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.