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Today Hexcel Corporation (HXL) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Hexcel Corporation ( HXL) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Hexcel Corporation as such a stock due to the following factors:

  • HXL has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $24.1 million.
  • HXL has traded 243,162 shares today.
  • HXL is trading at a new lifetime high.

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More details on HXL:

Hexcel Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of lightweight and high-performance structural materials for use in commercial aerospace, space and defense, and industrial applications. HXL has a PE ratio of 25.2. Currently there are 7 analysts that rate Hexcel Corporation a buy, 1 analyst rates it a sell, and 2 rate it a hold.

The average volume for Hexcel Corporation has been 497,600 shares per day over the past 30 days. Hexcel has a market cap of $4.4 billion and is part of the industrial goods sector and aerospace/defense industry. The stock has a beta of 0.68 and a short float of 0.8% with 1.46 days to cover. Shares are up 62.7% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Hexcel Corporation as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • HEXCEL CORP has improved earnings per share by 23.1% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, HEXCEL CORP increased its bottom line by earning $1.61 versus $1.34 in the prior year. This year, the market expects an improvement in earnings ($1.85 versus $1.61).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Aerospace & Defense industry average. The net income increased by 22.4% when compared to the same quarter one year prior, going from $39.80 million to $48.70 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 9.7%. Since the same quarter one year prior, revenues slightly increased by 5.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • HXL's debt-to-equity ratio is very low at 0.24 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.22, which illustrates the ability to avoid short-term cash problems.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 63.50% over the past year, a rise that has exceeded that of the S&P 500 Index. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.

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