Hexcel (NYSE:HXL) Upgraded to “Overweight” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hexcel (NYSE:HXL) from an equal weight rating to an overweight rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have $95.00 target price on the aerospace company’s stock, up from their previous target price of $81.00.

Several other equities research analysts have also recently commented on HXL. Northcoast Research cut Hexcel from a buy rating to a neutral rating in a research report on Wednesday, April 10th. UBS Group reduced their price target on shares of Hexcel from $77.00 to $73.00 and set a neutral rating for the company in a research note on Wednesday, April 24th. BMO Capital Markets increased their price objective on shares of Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a research report on Thursday, February 22nd. Barclays cut their target price on shares of Hexcel from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada reissued an outperform rating and set a $80.00 price target on shares of Hexcel in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Hexcel presently has a consensus rating of Hold and an average price target of $77.57.

Hexcel Stock Performance

Shares of HXL stock opened at $72.65 on Wednesday. The company’s 50-day moving average is $69.53 and its 200 day moving average is $69.52. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 62.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. Hexcel has a one year low of $58.81 and a one year high of $79.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.74.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Sell-side analysts expect that Hexcel will post 2.22 EPS for the current fiscal year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s payout ratio is 51.28%.

Insider Buying and Selling at Hexcel

In other news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Hexcel news, CEO Nick L. Stanage purchased 15,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was acquired at an average cost of $64.29 per share, for a total transaction of $964,350.00. Following the purchase, the chief executive officer now directly owns 392,446 shares of the company’s stock, valued at approximately $25,230,353.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the sale, the insider now owns 50,371 shares in the company, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Insiders have bought 43,400 shares of company stock valued at $2,820,322 over the last 90 days. 1.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hexcel

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hexcel by 22.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,774 shares of the aerospace company’s stock valued at $572,000 after acquiring an additional 1,589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hexcel by 21.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,199 shares of the aerospace company’s stock worth $1,120,000 after buying an additional 3,004 shares in the last quarter. Strs Ohio increased its holdings in shares of Hexcel by 14.6% in the 3rd quarter. Strs Ohio now owns 20,569 shares of the aerospace company’s stock worth $1,339,000 after buying an additional 2,620 shares during the last quarter. Advisor Partners II LLC raised its position in shares of Hexcel by 61.4% during the 3rd quarter. Advisor Partners II LLC now owns 9,259 shares of the aerospace company’s stock valued at $603,000 after buying an additional 3,524 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Hexcel by 68.1% in the 3rd quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 179 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other 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.