BMO Capital Markets Forecasts Strong Price Appreciation for Hexcel (NYSE:HXL) Stock

Key Points

• BMO Capital Markets has raised its price target for Hexcel's stock from $52.00 to $67.00, indicating a potential upside of 8.43% based on the company's previous close.
• Royal Bank of Canada has also increased its price target for Hexcel to $70.00, while Barclays has lowered its target to $68.00, reflecting varied analyst opinions on the stock.
• Hexcel reported earnings per share of $0.50 for the last quarter, surpassing analysts' expectations and generating a revenue of $489.90 million, though down 2.1% from the previous year.

Hexcel (NYSE:HXL - Get Free Report) had its target price boosted by equities researchers at BMO Capital Markets from $52.00 to $67.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "market perform" rating on the aerospace company's stock. BMO Capital Markets' price target points to a potential upside of 12.51% from the company's previous close.

A number of other brokerages also recently issued reports on HXL. Morgan Stanley increased their price objective on Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Truist Financial lowered their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Barclays lowered their price objective on Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Finally, Wall Street Zen downgraded Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Hexcel has an average rating of "Hold" and an average target price of $63.33.

Hexcel Stock Performance

Shares of NYSE:HXL traded down $0.36 during trading on Tuesday, hitting $59.55. 1,135,951 shares of the company were exchanged, compared to its average volume of 1,226,232. The company has a market cap of $4.74 billion, a PE ratio of 55.14, a P/E/G ratio of 1.98 and a beta of 1.36. The stock has a 50 day moving average of $57.20 and a 200 day moving average of $57.48. Hexcel has a 52-week low of $45.28 and a 52-week high of $71.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.69 and a quick ratio of 1.50.

Hexcel (NYSE:HXL - Get Free Report) last posted its earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The firm had revenue of $489.90 million for the quarter, compared to the consensus estimate of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts predict that Hexcel will post 2.14 EPS for the current year.

Institutional Trading of Hexcel

Several large investors have recently modified their holdings of HXL. Trust Co. of Toledo NA OH bought a new stake in shares of Hexcel in the second quarter worth about $26,000. Park Place Capital Corp grew its holdings in shares of Hexcel by 65.1% during the 2nd quarter. Park Place Capital Corp now owns 497 shares of the aerospace company's stock worth $28,000 after acquiring an additional 196 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Hexcel by 138.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the aerospace company's stock worth $42,000 after acquiring an additional 441 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Hexcel in the 2nd quarter worth approximately $55,000. Finally, NBC Securities Inc. bought a new stake in shares of Hexcel in the 1st quarter worth approximately $61,000. 95.47% of the stock is owned by institutional investors.

About Hexcel

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.