Hexcel (NYSE:HXL) Given New $62.00 Price Target at Royal Bank of Canada

Hexcel (NYSE:HXL) had its target price decreased by research analysts at Royal Bank of Canada from $70.00 to $62.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 23.78% from the stock’s previous close.

Other analysts have also recently issued reports about the company. BMO Capital Markets dropped their target price on Hexcel from $72.00 to $52.00 and set a “market perform” rating for the company in a report on Wednesday. Wells Fargo & Company cut shares of Hexcel from an “overweight” rating to a “reduce” rating in a research report on Tuesday, April 15th. Truist Financial decreased their target price on shares of Hexcel from $80.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Barclays cut their price target on shares of Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.20.

Hexcel Stock Performance

NYSE HXL opened at $50.09 on Wednesday. The stock’s 50 day simple moving average is $56.03 and its 200-day simple moving average is $60.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. The company has a market cap of $4.03 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. Hexcel has a 1-year low of $45.28 and a 1-year high of $73.58.

Hexcel (NYSE:HXL) last released its earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Hexcel had a return on equity of 10.66% and a net margin of 6.94%. The business had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $482.18 million. During the same period last year, the business earned $0.44 earnings per share. As a group, equities research analysts anticipate that Hexcel will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hexcel

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of Hexcel by 1.4% during the fourth quarter. UMB Bank n.a. now owns 14,766 shares of the aerospace company’s stock worth $926,000 after purchasing an additional 202 shares in the last quarter. Huntington National Bank increased its stake in Hexcel by 21.4% during the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock worth $73,000 after buying an additional 204 shares during the period. GAMMA Investing LLC lifted its holdings in Hexcel by 21.1% during the 4th quarter. GAMMA Investing LLC now owns 1,181 shares of the aerospace company’s stock worth $74,000 after buying an additional 206 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in Hexcel by 4.5% in the 4th quarter. Insigneo Advisory Services LLC now owns 5,077 shares of the aerospace company’s stock valued at $318,000 after buying an additional 218 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Hexcel by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 35,779 shares of the aerospace company’s stock worth $2,243,000 after acquiring an additional 220 shares in the last quarter. 95.47% of the stock is currently 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.