Goldman Sachs Group Inc. Downgrades Headwaters Inc. (HW) to Sell
Headwaters Inc. (NYSE:HW) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also weighed in on the company. Canaccord Genuity lowered Headwaters from a “buy” rating to a “hold” rating and boosted their price target for the stock from $23.50 to $24.25 in a research note on Monday, November 21st. CL King lowered Headwaters from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 9th. Jefferies Group started coverage on Headwaters in a research report on Tuesday, September 13th. They issued a “buy” rating and a $21.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Headwaters in a research report on Wednesday, November 2nd. Finally, SunTrust Banks Inc. lowered Headwaters from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Headwaters has a consensus rating of “Hold” and a consensus target price of $22.68.
Shares of Headwaters (NYSE:HW) opened at 23.76 on Thursday. Headwaters has a one year low of $13.62 and a one year high of $23.99. The firm’s 50-day moving average is $18.48 and its 200-day moving average is $18.34. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 37.07 and a beta of 1.49.
Headwaters (NYSE:HW) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.03. Headwaters had a return on equity of 30.41% and a net margin of 4.93%. The business had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $303.81 million. During the same quarter in the previous year, the firm posted $0.40 EPS. Headwaters’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Headwaters will post $1.40 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. 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 valued at $100,000 after buying an additional 2,291 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Headwaters during the second quarter valued at $149,000. Fortaleza Asset Management Inc. increased its position in shares of Headwaters by 25.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $164,000 after buying an additional 1,880 shares during the last quarter. PineBridge Investments L.P. increased its position in shares of Headwaters by 3.8% in the second quarter. PineBridge Investments L.P. now owns 9,391 shares of the company’s stock valued at $168,000 after buying an additional 347 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Headwaters by 15.7% in the second quarter. Teacher Retirement System of Texas now owns 10,454 shares of the company’s stock valued at $188,000 after buying an additional 1,415 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
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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