Headwaters Inc. (HW) Downgraded by DA Davidson to Neutral
DA Davidson cut shares of Headwaters Inc. (NYSE:HW) from a buy rating to a neutral rating in a report published on Tuesday. DA Davidson currently has $24.25 price target on the stock, up from their prior price target of $24.00.
Other research analysts have also recently issued reports about the company. CL King cut Headwaters from a buy rating to a neutral rating in a research report on Tuesday, August 9th. Zacks Investment Research cut Headwaters from a buy rating to a hold rating in a research report on Thursday, August 4th. Canaccord Genuity reissued a buy rating and issued a $23.50 target price on shares of Headwaters in a research report on Thursday, August 4th. Deutsche Bank AG upped their target price on Headwaters from $21.00 to $22.00 and gave the company a buy rating in a research report on Wednesday, August 3rd. Finally, Jefferies Group reissued a buy rating and issued a $20.00 target price on shares of Headwaters in a research report on Thursday, November 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Headwaters has an average rating of Hold and a consensus price target of $22.07.
Shares of Headwaters (NYSE:HW) traded up 0.13% on Tuesday, reaching $23.55. The company had a trading volume of 827,174 shares. Headwaters has a 52 week low of $13.62 and a 52 week high of $23.87. The firm has a market capitalization of $1.75 billion, a P/E ratio of 36.74 and a beta of 1.49. The company’s 50-day moving average price is $18.05 and its 200 day moving average price is $18.27.
Headwaters (NYSE:HW) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The business had revenue of $291.60 million for the quarter, compared to analyst estimates of $303.81 million. Headwaters had a return on equity of 30.41% and a net margin of 4.93%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. On average, analysts expect that Headwaters will post $1.40 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Headwaters by 82.3% in the first quarter. BlackRock Inc. now owns 5,076 shares of the company’s stock worth $100,000 after buying an additional 2,291 shares during the period. State Street Corp increased its position in shares of Headwaters by 5.5% in the first quarter. State Street Corp now owns 1,518,039 shares of the company’s stock worth $30,121,000 after buying an additional 79,522 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Headwaters by 118.0% in the second quarter. BNP Paribas Arbitrage SA now owns 23,117 shares of the company’s stock worth $415,000 after buying an additional 12,512 shares during the period. New England Research & Management Inc. acquired a new position in shares of Headwaters during the second quarter worth about $602,000. Finally, Capstone Asset Management Co. increased its position in shares of Headwaters by 13.4% in the second quarter. Capstone Asset Management Co. now owns 33,050 shares of the company’s stock worth $593,000 after buying an additional 3,900 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.
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Headwaters Company Profile
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.
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