Hexcel Sees Large Growth in Short Interest (HXL)
Hexcel (NYSE:HXL) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 1,462,678 shares, an increase of 45.2% from the July 15th total of 1,007,596 shares, AnalystRatingsNetwork reports. Based on an average trading volume of 1,283,352 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.5% of the company’s stock are short sold.
In other Hexcel news, Treasurer Michael J. Macintyre sold 2,119 shares of Hexcel stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $38.12, for a total transaction of $80,776.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Hexcel in a research note on Wednesday, July 23rd. They now have a $50.00 price target on the stock, down previously from $52.00. Analysts at Canaccord Genuity downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. They now have a $46.00 price target on the stock, down previously from $52.00. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.56.
Hexcel (NYSE:HXL) opened at 38.34 on Wednesday. Hexcel has a 52-week low of $35.31 and a 52-week high of $46.46. The stock has a 50-day moving average of $39.24 and a 200-day moving average of $41.48. The company has a market cap of $3.693 billion and a price-to-earnings ratio of 19.85.
Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.55 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.55. The company had revenue of $470.10 million for the quarter, compared to the consensus estimate of $465.54 million. During the same quarter last year, the company posted $0.48 earnings per share. Hexcel’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Hexcel will post $2.12 earnings per share for the current fiscal year.
Hexcel Corporation (NYSE:HXL) is a composites company.
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