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

Today, Headwaters Inc. (HW) Rating Decreased to Hold at Jefferies Group
Headwaters Inc. (NYSE:HW) was downgraded by equities researchers at Jefferies Group to a “hold” rating in a note issued to investors on Friday. They presently have a $24.25 price objective on the stock. Jefferies Group’s target price would indicate 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.””

Other analysts have also recently issued research reports about the stock. Canaccord Genuity reissued a “buy” rating and set a $23.50 price target on shares of Headwaters in a research report on Thursday, August 4th. Deutsche Bank AG increased their price target on shares of Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. DA Davidson set a $24.00 target price on shares of Headwaters and gave the stock a “buy” rating in a research note on Saturday, October 8th. Zacks Investment Research lowered shares of Headwaters from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Stifel Nicolaus lowered shares of Headwaters from a “buy” rating to a “hold” rating and cut their target price for the stock from $24.25 to $21.00 in a research note 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. The stock has a consensus rating of “Hold” and a consensus 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 PE ratio of 36.77 and a beta of 1.49. Headwaters has a 52 week low of $13.62 and a 52 week high of $23.87. The firm’s 50-day moving average is $18.25 and its 200 day moving average is $18.30.

Headwaters (NYSE:HW) last issued its quarterly earnings results 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 firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. On average, equities analysts forecast that Headwaters will post $1.40 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL raised its position in shares of Headwaters by 0.8% in the second quarter. Blair William & Co. IL now owns 15,174 shares of the company’s stock valued at $272,000 after buying an additional 120 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Headwaters by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 20,570 shares of the company’s stock worth $348,000 after buying an additional 270 shares during the period. BlackRock Inc. raised its position in shares of 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 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, Arizona State Retirement System raised its position in shares of Headwaters by 1.3% in the second quarter. Arizona State Retirement System now owns 38,459 shares of the company’s stock worth $690,000 after buying an additional 500 shares during the period. Institutional investors own 92.59% of the company’s stock.

Headwaters Company Profile

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