DA Davidson Analysts Give Headwaters Inc. (HW) a $24.00 Price Target
Headwaters Inc. (NYSE:HW) received a $24.00 price target from equities research analysts at DA Davidson in a report released on Saturday. The firm currently has a a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 44.49% from the company’s previous close.
HW has been the subject of several other reports. Canaccord Genuity restated a “buy” rating and set a $23.50 target price on shares of Headwaters in a research note on Thursday, August 4th. Zacks Investment Research upgraded Headwaters from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, July 13th. Jefferies Group started coverage on Headwaters in a research note on Tuesday, September 13th. They issued a “buy” rating and a $21.00 price target for the company. CL King cut Headwaters from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Finally, Deutsche Bank AG increased their price target on Headwaters from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Headwaters has an average rating of “Buy” and an average target price of $22.21.
Shares of Headwaters (NYSE:HW) traded down 3.26% during midday trading on Friday, hitting $16.61. The company had a trading volume of 354,190 shares. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 7.86 and a beta of 1.53. The stock’s 50-day moving average price is $17.43 and its 200-day moving average price is $18.62. Headwaters has a one year low of $13.62 and a one year high of $21.25.
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Headwaters (NYSE:HW) last released its earnings results on Tuesday, August 2nd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.08. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. The business had revenue of $262.50 million for the quarter, compared to the consensus estimate of $276.83 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that Headwaters will post $1.14 EPS for the current year.
In other Headwaters news, Director R Sam Christensen purchased 5,706 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was purchased at an average cost of $19.05 per share, for a total transaction of $108,699.30. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bob L. Whisnant sold 32,890 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $19.02, for a total value of $625,567.80. Following the sale, the insider now owns 6,046 shares of the company’s stock, valued at $114,994.92. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake 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. acquired a new stake in shares of Headwaters during the second quarter worth $149,000. Fortaleza Asset Management Inc. increased its stake 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 stake 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, Teacher Retirement System of Texas increased its stake 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 worth $188,000 after buying an additional 1,415 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Headwaters Company Profile
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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