Hexcel Corporation (HXL - Free Report) was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $72.91 to $76.73 in the past one-month time frame.
The upmove came following news of an all-stock merger of equals deal with Woodward, Inc. The combined company will be among the top independent aerospace and defense suppliers globally, in revenue terms.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Hexcel currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Hexcel Corporation Price
Investors interested in the Aerospace - Defense Equipment industry may consider Heico Corporation (HEI - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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