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

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

Other equities analysts have also recently issued reports about the company. Truist Financial lowered their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. UBS Group dropped their target price on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Stifel Nicolaus dropped their price objective on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, BMO Capital Markets reduced their target price 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. 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. Based on data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and an average price target of $71.62.

Hexcel Price Performance

NYSE HXL opened at $62.53 on Wednesday. Hexcel has a one year low of $57.50 and a one year high of $77.09. The stock has a 50-day moving average of $61.65 and a 200 day moving average of $64.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.76. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 1.48 and a beta of 1.29.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $457.00 million during 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 business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. On average, sell-side analysts forecast that Hexcel will post 2.07 EPS for the current year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is 45.80%.

Institutional Investors Weigh In On Hexcel

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 1,246,765 shares during the period. Millennium Management LLC grew its holdings in Hexcel by 307.1% during the 2nd quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock valued at $67,421,000 after buying an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Hexcel by 215.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after buying an additional 590,975 shares during the last quarter. Ceredex Value Advisors LLC raised its position in shares of Hexcel by 280.7% during the second quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock valued at $45,107,000 after buying an additional 532,550 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Hexcel by 114.4% during 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 acquiring an additional 232,827 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.