Hexcel Corp. Now Covered by Canaccord Genuity (HXL)
Analysts at Canaccord Genuity assumed coverage on shares of Hexcel Corp. (NYSE:HXL) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We are initiating coverage of HXL with a BUY rating and a $46 price target. HXL should continue to benefit from the secular and cyclical growth for composites in commercial aerospace, with the A350 providing significant late-cycle acceleration. Wind sales should improve off the 1H13 trough, and capital deployment opportunities could provide additional catalysts.”
Hexcel Corp. (NYSE:HXL) traded up 2.26% during mid-day trading on Wednesday, hitting $38.95. 29,095 shares of the company’s stock traded hands. Hexcel Corp. has a 52-week low of $23.45 and a 52-week high of $39.75. The stock’s 50-day moving average is $37.71 and its 200-day moving average is $34.36. The company has a market cap of $3.875 billion and a P/E ratio of 23.08.
Hexcel Corp. (NYSE:HXL) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.01. The company had revenue of $422.60 million for the quarter, compared to the consensus estimate of $423.82 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Hexcel Corp. will post $1.82 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HXL. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Hexcel Corp. in a research note to investors on Monday, September 30th. They now have a $54.00 price target on the stock, up previously from $41.00. Separately, analysts at CRT Capital raised their price target on shares of Hexcel Corp. from $36.00 to $42.00 in a research note to investors on Monday, August 12th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Hexcel Corp. in a research note to investors on Wednesday, July 24th. They now have a $39.00 price target on the stock, down previously from $43.00. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Hexcel Corp. has a consensus rating of “Buy” and a consensus target price of $39.60.
Hexcel Corporation (NYSE:HXL) is a composites company.
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