Hexcel Corporation (HXL) Reaches New 52-Week High at $57.16
Shares of Hexcel Corporation (NYSE:HXL) hit a new 52-week high during trading on Wednesday . The stock traded as high as $57.16 and last traded at $57.26, with a volume of 226,834 shares trading hands. The stock had previously closed at $56.78.
Several brokerages recently commented on HXL. BidaskClub lowered Hexcel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and issued a $57.00 price target on shares of Hexcel Corporation in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price objective on shares of Hexcel Corporation in a research note on Friday, July 7th. Canaccord Genuity reissued a “hold” rating and issued a $54.00 price objective on shares of Hexcel Corporation in a research note on Monday, July 24th. Finally, Vertical Research lowered Hexcel Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $58.00 to $54.00 in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.20.
The firm has a market cap of $5.16 billion, a P/E ratio of 21.07 and a beta of 1.04. The company has a 50-day moving average price of $53.30 and a 200-day moving average price of $52.67.
Hexcel Corporation (NYSE:HXL) last issued its earnings results on Monday, July 24th. The aerospace company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.02). The business had revenue of $491.30 million during the quarter, compared to analyst estimates of $518.29 million. Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. On average, equities research analysts expect that Hexcel Corporation will post $2.68 EPS for the current year.
Several hedge funds have recently modified their holdings of HXL. Toronto Dominion Bank boosted its holdings in shares of Hexcel Corporation by 50.7% during the 1st quarter. Toronto Dominion Bank now owns 2,305 shares of the aerospace company’s stock valued at $126,000 after acquiring an additional 775 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Hexcel Corporation by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 200 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Hexcel Corporation during the 2nd quarter valued at $202,000. Pacad Investment Ltd. acquired a new stake in shares of Hexcel Corporation during the 2nd quarter valued at $206,000. Finally, AHL Partners LLP acquired a new stake in shares of Hexcel Corporation during the 2nd quarter valued at $207,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
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About Hexcel Corporation
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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