Hexcel (NYSE:HXL) Announces Quarterly Earnings Results, Hits Expectations

Hexcel (NYSE:HXL) released its quarterly earnings data on Wednesday. The aerospace company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52, Zacks reports. Hexcel had a return on equity of 9.99% and a net margin of 5.73%.

Hexcel Stock Performance

Hexcel stock traded up $0.06 during midday trading on Wednesday, hitting $68.52. 2,165,613 shares of the company were exchanged, compared to its average volume of 1,315,968. The firm has a market capitalization of $5.55 billion, a PE ratio of 52.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.30. Hexcel has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The business has a fifty day simple moving average of $63.22 and a two-hundred day simple moving average of $62.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HXL. BMO Capital Markets cut their price target on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company lifted their price objective on Hexcel from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised Hexcel to a “hold” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.33.

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.