Headwaters Inc. (HW) Rating Lowered to Hold at Jefferies Group
Headwaters Inc. (NYSE:HW) was downgraded by equities research analysts at Jefferies Group to a “hold” rating in a research note issued on Friday. They currently have a $24.25 target price on the stock. Jefferies Group’s price objective points to a potential upside of 2.89% from the stock’s previous close.
The analysts wrote, “We are Downgrading HW to Hold after the announcement that the company will be acquired by Boral (BLD-AU) for $24.25 per share, which is currently reflected in the share price, and we believe a superior offer is unlikely.””
A number of other research analysts also recently commented on HW. Deutsche Bank AG raised their target price on shares of Headwaters from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $23.50 target price on shares of Headwaters in a research report on Thursday, August 4th. Zacks Investment Research downgraded shares of Headwaters from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. CL King downgraded shares of Headwaters from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 9th. Finally, DA Davidson set a $24.00 target price on shares of Headwaters and gave the company a “buy” rating in a research report on Saturday, October 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Headwaters presently has a consensus rating of “Hold” and a consensus target price of $22.68.
Headwaters (NYSE:HW) opened at 23.57 on Friday. The company’s 50-day moving average is $18.25 and its 200-day moving average is $18.30. Headwaters has a 12 month low of $13.62 and a 12 month high of $23.87. The company has a market cap of $1.75 billion, a P/E ratio of 36.77 and a beta of 1.49.
Headwaters (NYSE:HW) last posted its earnings results on Tuesday, November 1st. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $303.81 million. Headwaters had a net margin of 4.93% and a return on equity of 30.41%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. On average, equities research analysts expect that Headwaters will post $1.40 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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. Pacad Investment Ltd. bought a new stake in Headwaters during the second quarter worth approximately $149,000. Fortaleza Asset Management Inc. boosted its stake in Headwaters by 25.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,135 shares of the company’s stock worth $164,000 after buying an additional 1,880 shares during the period. PineBridge Investments L.P. boosted its stake in Headwaters by 3.8% in the second quarter. PineBridge Investments L.P. now owns 9,391 shares of the company’s stock worth $168,000 after buying an additional 347 shares during the period. Finally, KCG Holdings Inc. bought a new stake in Headwaters during the third quarter worth approximately $185,000. Institutional investors own 92.59% of the company’s stock.
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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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