Avondale Partners downgraded shares of Headwaters Inc. (NYSE:HW) from an outperform rating to a market perform rating in a report issued on Monday.

Several other equities research analysts also recently issued reports on HW. Canaccord Genuity downgraded Headwaters from a buy rating to a hold rating and raised their price target for the company from $23.50 to $24.25 in a report on Monday. CL King downgraded Headwaters from a buy rating to a neutral rating in a report on Tuesday, August 9th. Jefferies Group initiated coverage on Headwaters in a report on Tuesday, September 13th. They set a buy rating and a $21.00 price target for the company. Deutsche Bank AG reaffirmed a buy rating on shares of Headwaters in a report on Wednesday, November 2nd. Finally, Zacks Investment Research downgraded Headwaters from a buy rating to a hold rating in a report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $22.25.

Analyst Recommendations for Headwaters (NYSE:HW)

Shares of Headwaters (NYSE:HW) traded up 0.276% during midday trading on Monday, reaching $23.585. The company had a trading volume of 1,238,555 shares. Headwaters has a one year low of $13.62 and a one year high of $23.87. The company has a 50-day moving average price of $17.86 and a 200 day moving average price of $18.23. The company has a market capitalization of $1.75 billion, a P/E ratio of 36.794 and a beta of 1.49.

Headwaters (NYSE:HW) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by $0.03. The company earned $291.60 million during the quarter, compared to analyst estimates of $303.81 million. Headwaters had a net margin of 4.93% and a return on equity of 30.41%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Equities analysts anticipate that Headwaters will post $1.40 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA raised its position in shares of Headwaters by 397.9% in the second quarter. Glenmede Trust Co. NA now owns 1,652,805 shares of the company’s stock valued at $29,650,000 after buying an additional 1,320,846 shares during the period. Copper Rock Capital Partners LLC acquired a new position in shares of Headwaters during the second quarter valued at about $23,353,000. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Headwaters during the second quarter valued at about $18,491,000. Victory Capital Management Inc. raised its position in shares of Headwaters by 41.1% in the third quarter. Victory Capital Management Inc. now owns 3,165,643 shares of the company’s stock valued at $53,563,000 after buying an additional 922,355 shares during the period. Finally, Penn Capital Management Co. Inc. acquired a new position in shares of Headwaters during the second quarter valued at about $11,529,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About Headwaters

Headwaters Incorporated is a building materials company. The Company’s segments include building products, construction materials and energy technology. Its building products segment consists of product sales to wholesale and retail distributors, contractors and other users of building products. Its construction materials segment consists of coal combustion products (CCP) sales to ready-mix concrete businesses, with a smaller amount from services provided to coal-fueled electric generating utilities.

5 Day Chart for NYSE:HW

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