Royal Bank of Canada Forecasts Strong Price Appreciation for Hexcel (NYSE:HXL) Stock

Hexcel (NYSE:HXL) had its price objective increased by Royal Bank of Canada from $74.00 to $82.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the aerospace company’s stock.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Truist Financial cut their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen upgraded Hexcel to a “hold” rating in a research report on Thursday, December 19th. Wells Fargo & Company raised their price target on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group upped their price objective on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.25.

Hexcel Stock Performance

NYSE HXL opened at $67.48 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The business has a 50-day moving average price of $63.73 and a 200-day moving average price of $62.68. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Hexcel had a return on equity of 10.55% and a net margin of 6.94%. As a group, equities research analysts predict that Hexcel will post 2.34 EPS for the current fiscal year.

Hexcel Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.01%. This is an increase from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is currently 42.77%.

Institutional Trading of Hexcel

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Hexcel in the third quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new stake in Hexcel in the third quarter worth $56,000. First Horizon Advisors Inc. increased its stake in Hexcel by 53.8% in the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 326 shares during the period. Huntington National Bank lifted its position in shares of Hexcel by 30.8% during the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 225 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Hexcel during the third quarter valued at $62,000. 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.