Hexcel Co. (NYSE:HXL – Get Rating) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 3,280,000 shares, a decline of 6.6% from the May 15th total of 3,510,000 shares. Based on an average trading volume of 580,600 shares, the days-to-cover ratio is presently 5.6 days.
Hexcel Stock Performance
Shares of HXL stock opened at $72.11 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.78 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $71.19 and a two-hundred day moving average of $67.50. Hexcel has a 52 week low of $47.38 and a 52 week high of $75.47. The company has a market cap of $6.08 billion, a P/E ratio of 40.74 and a beta of 1.23.
Hexcel (NYSE:HXL – Get Rating) last issued its earnings results on Tuesday, April 25th. The aerospace company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. Hexcel had a return on equity of 8.73% and a net margin of 9.19%. The company had revenue of $457.70 million during the quarter, compared to the consensus estimate of $431.53 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Hexcel’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, analysts anticipate that Hexcel will post 1.88 EPS for the current year.
Hexcel Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were paid a $0.125 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.50 dividend on an annualized basis and a yield of 0.69%. Hexcel’s payout ratio is currently 28.25%.
Hedge Funds Weigh In On Hexcel
Several hedge funds and other institutional investors have recently made changes to their positions in HXL. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hexcel by 12.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock worth $492,000 after buying an additional 922 shares during the period. US Bancorp DE boosted its position in shares of Hexcel by 17.0% during the first quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock worth $658,000 after buying an additional 1,609 shares during the period. HighTower Advisors LLC boosted its position in shares of Hexcel by 10.6% during the first quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock worth $1,017,000 after buying an additional 1,641 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Hexcel by 18.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock worth $1,000,000 after buying an additional 2,567 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Hexcel by 22.7% during the first quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock worth $2,087,000 after buying an additional 6,443 shares during the period. 97.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on HXL. StockNews.com began coverage on Hexcel in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Barclays lifted their price target on Hexcel from $64.00 to $80.00 in a research note on Tuesday, May 2nd. Royal Bank of Canada lifted their price target on Hexcel from $65.00 to $70.00 in a research note on Wednesday, April 26th. Wells Fargo & Company decreased their price target on Hexcel from $76.00 to $71.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 22nd. Finally, Truist Financial lifted their price target on Hexcel from $59.00 to $68.00 in a research note on Wednesday, April 26th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.00.
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.