Insider Selling: Hexcel Treasurer Unloads 1,500 Shares of Stock (HXL)
Hexcel (NYSE:HXL) Treasurer Michael J. Macintyre unloaded 1,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $38.28, for a total transaction of $57,420.00. Following the completion of the transaction, the treasurer now directly owns 1 shares of the company’s stock, valued at approximately $38. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Hexcel (NYSE:HXL) traded up 0.59% during mid-day trading on Friday, hitting $39.02. The stock had a trading volume of 524,353 shares. Hexcel has a one year low of $35.31 and a one year high of $46.46. The stock has a 50-day moving average of $39. and a 200-day moving average of $41.43. The company has a market cap of $3.759 billion and a price-to-earnings ratio of 19.90. Hexcel also was the target of a significant increase in short interest in the month of 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. Based on an average daily volume of 1,283,352 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.5% of the company’s stock are short sold.
Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Hexcel will post $2.12 earnings per share for the current fiscal year.
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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $48.56.
Hexcel Corporation (NYSE:HXL) is a composites company.
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