Wells Fargo & Company Cuts Hexcel (NYSE:HXL) Price Target to $63.00

Hexcel (NYSE:HXL) had its price target cut by Wells Fargo & Company from $87.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 18.18% from the stock’s previous close.

Several other research firms also recently weighed in on HXL. TD Cowen upgraded Hexcel to a “hold” rating in a research report on Monday, February 24th. Barclays reduced their target price 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. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research report on Monday, March 17th. Royal Bank of Canada increased their target price on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Truist Financial reduced their price objective on Hexcel from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.25.

Hexcel Stock Up 12.3 %

Shares of NYSE:HXL opened at $53.31 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. Hexcel has a 52-week low of $45.28 and a 52-week high of $73.58. The stock’s fifty day simple moving average is $59.06 and its 200-day simple moving average is $61.50. The company has a market capitalization of $4.29 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.72 and a beta of 1.08.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. As a group, equities research analysts forecast that Hexcel will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hexcel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Hexcel by 4,372.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,502,676 shares of the aerospace company’s stock valued at $156,919,000 after acquiring an additional 2,446,716 shares during the last quarter. Norges Bank acquired a new stake in shares of Hexcel during the 4th quarter valued at $60,241,000. Brandes Investment Partners LP lifted its position in shares of Hexcel by 99.6% during the 4th quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company’s stock valued at $81,803,000 after acquiring an additional 651,062 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Hexcel by 249.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company’s stock valued at $51,142,000 after acquiring an additional 582,353 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Hexcel by 1,153.9% in the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock valued at $33,546,000 after purchasing an additional 493,218 shares in the last quarter. 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.