Headwaters Inc. (HW) Receives Average Rating of “Hold” from Analysts
Shares of Headwaters Inc. (NYSE:HW) have earned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.95.
Several equities research analysts have recently issued reports on the stock. Goldman Sachs Group Inc. lowered shares of Headwaters from a “neutral” rating to a “sell” rating in a research note on Thursday, November 24th. Jefferies Group lowered shares of Headwaters from a “buy” rating to a “hold” rating and set a $24.25 price target on the stock. in a research note on Friday, November 25th. Stifel Nicolaus lowered shares of Headwaters from a “buy” rating to a “hold” rating and decreased their price target for the company from $24.25 to $21.00 in a research note on Wednesday, November 23rd. SunTrust Banks Inc. lowered shares of Headwaters from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, DA Davidson lowered shares of Headwaters from a “buy” rating to a “neutral” rating and raised their price target for the company from $24.00 to $24.25 in a research note on Tuesday, November 22nd.
Headwaters (NYSE:HW) traded up 0.359% during midday trading on Wednesday, reaching $23.735. The company’s stock had a trading volume of 813,470 shares. The stock’s 50 day moving average price is $18.68 and its 200-day moving average price is $18.37. Headwaters has a one year low of $13.62 and a one year high of $23.99. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 37.028 and a beta of 1.49.
Headwaters (NYSE:HW) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by $0.03. Headwaters had a net margin of 4.93% and a return on equity of 30.41%. The business earned $291.60 million during the quarter, compared to analysts’ expectations of $303.81 million. During the same period in the previous year, the company posted $0.40 earnings per share. Headwaters’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts forecast that Headwaters will post $1.40 EPS for the current fiscal year.
In other news, General Counsel Harlan M. Hatfield sold 1,860 shares of Headwaters stock in a transaction on Monday, November 28th. The shares were sold at an average price of $23.70, for a total transaction of $44,082.00. Following the completion of the sale, the general counsel now directly owns 53,868 shares of the company’s stock, valued at approximately $1,276,671.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in HW. BlackRock Inc. raised its position in Headwaters by 4.3% in the third quarter. BlackRock Inc. now owns 7,558 shares of the company’s stock worth $127,000 after buying an additional 313 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Headwaters during the second quarter worth about $149,000. Fortaleza Asset Management Inc. raised 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 worth $164,000 after buying an additional 1,880 shares during the period. PineBridge Investments L.P. raised 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 worth $168,000 after buying an additional 347 shares during the period. Finally, KCG Holdings Inc. purchased a new position in shares of Headwaters during the third quarter worth about $185,000. 94.82% of the stock is owned by institutional investors and hedge funds.
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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