Today, Headwaters Inc. (HW) Decreased to “Hold” at Jefferies Group

Today, Headwaters Inc. (HW) Decreased to “Hold” at Jefferies Group
Headwaters Inc. (NYSE:HW) was downgraded by equities research analysts at Jefferies Group to a “hold” rating in a note issued to investors on Friday. They presently have a $24.25 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 2.89% from the company’s current price.

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 equities analysts have also issued reports on the company. Canaccord Genuity lowered Headwaters from a “buy” rating to a “hold” rating and upped their target price for the company from $23.50 to $24.25 in a research report on Monday. Avondale Partners lowered Headwaters from an “outperform” rating to a “market perform” rating in a research report on Monday. DA Davidson lowered Headwaters from a “buy” rating to a “neutral” rating and upped their target price for the company from $24.00 to $24.25 in a research report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating on shares of Headwaters in a research report on Wednesday, November 2nd. Finally, Stifel Nicolaus lowered Headwaters from a “buy” rating to a “hold” rating and cut their target price for the company from $24.25 to $21.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Headwaters presently has an average rating of “Hold” and an average target price of $22.68.

Shares of Headwaters (NYSE:HW) opened at 23.57 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 36.77 and a beta of 1.49. Headwaters has a one year low of $13.62 and a one year high of $23.87. The company’s 50 day moving average price is $18.25 and its 200 day moving average price is $18.30.

Headwaters (NYSE:HW) last released 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. The company 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 business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts expect that Headwaters will post $1.40 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of 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 worth $100,000 after buying an additional 2,291 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Headwaters during the second quarter worth approximately $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 worth $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 worth $168,000 after buying an additional 347 shares during the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Headwaters during the third quarter worth approximately $185,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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