Headwaters Inc. (HW) Sees Unusually-High Trading Volume
Shares of Headwaters Inc. (NYSE:HW) saw an uptick in trading volume on Thursday . 533,540 shares changed hands during trading, a decline of 1% from the previous session’s volume of 537,247 shares.The stock last traded at $17.79 and had previously closed at $18.13.
A number of research firms recently weighed in on HW. Zacks Investment Research downgraded shares of Headwaters from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Canaccord Genuity restated a “buy” rating and set a $23.50 price objective on shares of Headwaters in a report on Thursday, August 4th. Deutsche Bank AG boosted their price objective on shares of Headwaters from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. CL King cut shares of Headwaters from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Finally, Wedbush restated a “hold” rating and set a $21.00 price objective on shares of Headwaters in a report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Headwaters has an average rating of “Buy” and a consensus target price of $22.42.
The firm’s 50-day moving average is $19.25 and its 200-day moving average is $18.77. The company has a market capitalization of $1.31 billion and a P/E ratio of 8.40.
Headwaters (NYSE:HW) last released its earnings results on Tuesday, August 2nd. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.08. The firm earned $262.50 million during the quarter, compared to the consensus estimate of $276.83 million. During the same quarter last year, the firm earned $0.30 EPS. Headwaters’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts expect that Headwaters Inc. will post $1.14 EPS for the current fiscal year.
In other news, Director R Sam Christensen acquired 5,706 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average cost of $19.05 per share, for a total transaction of $108,699.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bob L. Whisnant sold 32,890 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $19.02, for a total value of $625,567.80. Following the completion of the sale, the insider now owns 6,046 shares in the company, valued at $114,994.92. The disclosure for this sale can be found here.
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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