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

Hexcel (NYSE:HXL - Get Free Report) had its target price decreased by Wells Fargo & Company from $87.00 to $63.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the aerospace company's stock. Wells Fargo & Company's target price suggests a potential upside of 21.36% from the company's previous close.

A number of other brokerages also recently weighed in on HXL. TD Cowen upgraded Hexcel to a "hold" rating in a report on Monday, February 24th. Barclays dropped their price objective on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. StockNews.com upgraded Hexcel from a "hold" rating to a "buy" rating in a research note on Monday, March 17th. Royal Bank of Canada boosted their price target on shares of Hexcel from $74.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Finally, Truist Financial dropped 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $69.73.

Hexcel Price Performance

Hexcel stock traded up $0.79 during mid-day trading on Tuesday, reaching $51.91. The company had a trading volume of 900,240 shares, compared to its average volume of 950,209. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. Hexcel has a fifty-two week low of $45.28 and a fifty-two week high of $73.58. The company has a market cap of $4.17 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.72 and a beta of 1.08. The business has a fifty day simple moving average of $58.55 and a 200 day simple moving average of $61.36.

Hexcel (NYSE:HXL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. On average, equities research analysts predict that Hexcel will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Hexcel

A number of institutional investors have recently added to or reduced their stakes in HXL. Barclays PLC grew its stake in Hexcel by 32.1% in the 3rd quarter. Barclays PLC now owns 70,023 shares of the aerospace company's stock worth $4,330,000 after buying an additional 17,011 shares in the last quarter. FMR LLC increased its holdings in shares of Hexcel by 11.7% in the third quarter. FMR LLC now owns 77,493 shares of the aerospace company's stock worth $4,791,000 after buying an additional 8,135 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hexcel by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company's stock valued at $68,021,000 after purchasing an additional 24,133 shares during the last quarter. Kopion Asset Management LLC raised its holdings in Hexcel by 11.2% during the 4th quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company's stock valued at $6,142,000 after buying an additional 9,861 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Hexcel during the fourth quarter worth about $242,000. 95.47% of the stock is currently 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.