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NEW YORK (TheStreet) -- Shares of Hexcel (HXL) - Get Hexcel Corporation Report are spiking 4.84% to $44.82 on heavy trading volume late Thursday afternoon after the Stamford, CT-based company's earnings and revenue exceeded analysts' expectations for the 2016 second quarter.

After yesterday's closing bell, the maker of lightweight composite materials posted earnings of 70 cents per diluted share, beating analysts' estimates of 65 cents per share.

Revenue rose 9.9% to $522.6 million from last year and was higher than Wall Street's forecasts of $504.3 million.

Commercial aerospace sales, which account for 70% of total sales, drove the quarter's results, Hexcel noted. Sales were up 14.3% in constant currency year-over-year.

For 2016, Hexcel sees earnings per share between $2.48 and $2.56 on revenue of $1.99 billion to $2.05 billion. Previously, the company guided earnings per share of $2.44 to $2.56.

Analysts are modeling earnings of $2.49 per share on revenue of $2 billion.

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About 1.45 million of the company's shares were traded so far today compared to its average volume of 584,352 shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.

The team believes its strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HXL

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