Royal Bank Of Canada Reiterates "Outperform" Rating for Hexcel (NYSE:HXL)

Key Points

• Hexcel's stock price target has been raised from $65 to $70 by Royal Bank Of Canada, indicating a potential upside of 12.05% from the current price.
• Despite the positive outlook from some analysts, other brokerages have downgraded their ratings, with Barclays and Wall Street Zen lowering their price targets to $68 and a "hold" rating, respectively.
• Hexcel reported a quarterly earnings per share (EPS) of $0.50, beating estimates, but experienced a 2.1% decline in revenue year-over-year.

Hexcel (NYSE:HXL - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank Of Canada in a research note issued on Monday, Marketbeat reports. They presently have a $70.00 price objective on the aerospace company's stock, up from their previous price objective of $65.00. Royal Bank Of Canada's target price would indicate a potential upside of 16.78% from the stock's current price.

Several other equities research analysts have also commented on HXL. Morgan Stanley boosted their target price on shares of Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Truist Financial decreased their price objective on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets decreased their price objective on shares of Hexcel from $72.00 to $52.00 and set a "market perform" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group decreased their price objective on shares of Hexcel from $53.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Hexcel has a consensus rating of "Hold" and a consensus price target of $63.33.

Hexcel Stock Performance

Hexcel stock traded down $1.06 during trading hours on Monday, reaching $59.94. 663,448 shares of the stock were exchanged, compared to its average volume of 1,210,544. The stock has a market cap of $4.77 billion, a P/E ratio of 55.56, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.50 and a current ratio of 2.69. Hexcel has a 52-week low of $45.28 and a 52-week high of $71.05. The firm's 50 day moving average is $56.88 and its 200 day moving average is $57.57.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HXL. Park Place Capital Corp lifted its position in shares of Hexcel by 65.1% in the second quarter. Park Place Capital Corp now owns 497 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 196 shares in the last quarter. Huntington National Bank lifted its position in shares of Hexcel by 21.4% in the fourth quarter. Huntington National Bank now owns 1,159 shares of the aerospace company's stock valued at $73,000 after acquiring an additional 204 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in shares of Hexcel by 4.0% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,323 shares of the aerospace company's stock valued at $291,000 after acquiring an additional 207 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Hexcel by 4.5% in the fourth quarter. Insigneo Advisory Services LLC now owns 5,077 shares of the aerospace company's stock valued at $318,000 after acquiring an additional 218 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Hexcel by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 35,779 shares of the aerospace company's stock valued at $2,243,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Hexcel Company Profile

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.