KeyCorp Reaffirms “Buy” Rating for Hexcel Corporation (HXL)
Hexcel Corporation (NYSE:HXL)‘s stock had its “buy” rating restated by equities researchers at KeyCorp in a research report issued to clients and investors on Thursday. They currently have a $65.00 price objective on the aerospace company’s stock. KeyCorp’s price target points to a potential upside of 8.14% from the stock’s current price.
A number of other research firms have also recently commented on HXL. Zacks Investment Research cut shares of Hexcel Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Canaccord Genuity reaffirmed a “hold” rating and issued a $54.00 target price on shares of Hexcel Corporation in a research report on Friday, September 29th. Loop Capital started coverage on shares of Hexcel Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $61.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 target price on shares of Hexcel Corporation in a research report on Friday, September 29th. Finally, Vertical Research cut shares of Hexcel Corporation from a “buy” rating to a “hold” rating and decreased their target price for the company from $58.00 to $54.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Hexcel Corporation presently has a consensus rating of “Hold” and an average target price of $58.00.
Hexcel Corporation (NYSE HXL) traded up 1.37% during midday trading on Thursday, hitting $60.11. 448,697 shares of the stock traded hands. Hexcel Corporation has a 52-week low of $41.03 and a 52-week high of $60.13. The stock has a 50-day moving average of $55.82 and a 200 day moving average of $53.20. The firm has a market cap of $5.40 billion, a PE ratio of 22.02 and a beta of 1.04.
Hexcel Corporation (NYSE:HXL) last announced its quarterly earnings data on Monday, July 24th. The aerospace company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.02). Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. The firm had revenue of $491.30 million during the quarter, compared to analysts’ expectations of $518.29 million. During the same period in the prior year, the company posted $0.70 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts forecast that Hexcel Corporation will post $2.68 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of Hexcel Corporation by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock worth $163,000 after purchasing an additional 200 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Hexcel Corporation during the second quarter worth about $202,000. Pacad Investment Ltd. acquired a new stake in shares of Hexcel Corporation during the second quarter worth about $206,000. AHL Partners LLP acquired a new stake in shares of Hexcel Corporation during the second quarter worth about $207,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Hexcel Corporation during the first quarter worth about $219,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.
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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