The Goldman Sachs Group Inc. Downgrade Headwaters Inc. (HW) to Sell

The Goldman Sachs Group Inc. Downgrade Headwaters Inc. (HW) to Sell

Headwaters Inc. (NYSE:HW) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a report released on Thursday.

Several other research analysts also recently weighed in on the company. Stifel Nicolaus downgraded Headwaters from a “buy” rating to a “hold” rating and lowered their target price for the company from $24.25 to $21.00 in a research note on Wednesday, November 23rd. SunTrust Banks Inc. downgraded Headwaters from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. DA Davidson downgraded Headwaters from a “buy” rating to a “neutral” rating and lifted their target price for the company from $24.00 to $24.25 in a research note on Tuesday, November 22nd. Avondale Partners downgraded Headwaters from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Finally, Canaccord Genuity downgraded Headwaters from a “buy” rating to a “hold” rating and lifted their target price for the company from $23.50 to $24.25 in a research note on Monday, November 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Headwaters presently has a consensus rating of “Hold” and an average target price of $22.68.

Headwaters (NYSE:HW) opened at 23.76 on Thursday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 37.07 and a beta of 1.49. Headwaters has a 1-year low of $13.62 and a 1-year high of $23.99. The company has a 50-day moving average price of $18.48 and a 200 day moving average price of $18.34.

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 firm 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 company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. Analysts expect that Headwaters will post $1.40 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of HW. BlackRock Inc. boosted 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 in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Headwaters during the second quarter valued at about $149,000. Fortaleza Asset Management Inc. boosted 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 in the last quarter. PineBridge Investments L.P. boosted 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 in the last quarter. Finally, KCG Holdings Inc. purchased a new position in shares of Headwaters during the third quarter valued at about $185,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Headwaters Company Profile

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