Headwaters Inc. Receives a Buy from Jefferies

By Jason Carr

Jefferies analyst Philip Ng reiterated a Buy rating on Headwaters Inc. (NYSE: HW) yesterday and set a price target of $20. The company’s shares closed yesterday at $16.79.

Ng commented:

“While the greatest risk remains HW’s ability to unlock fly ash capacity, we’re encouraged they are ramping up new storage capacity and have targeted reclamation projects, while assuming the low end of its supply target in its FY guidance.”

According to TipRanks.com, Ng is a 5-star analyst with an average return of 11.1% and a 64.6% success rate. Ng covers the Consumer Goods sector, focusing on stocks such as Orchids Paper Products Company, Graphic Packaging, and Sonoco Products.

Currently, the analyst consensus on Headwaters Inc. is Strong Buy and the average price target is $20, representing a 19.1% upside.

In a report issued on October 27, Canaccord Genuity also reiterated a Buy rating on the stock with a $23.50 price target.

The company has a one year high of $21.25 and a one year low of $13.62. Currently, Headwaters Inc. has an average volume of 617.2K.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Bob Whisnant, the President HCM, Block Group of HW sold 32,890 shares for a total of $625,239.

Headwaters, Inc. engages in the manufacturing of building products for the residential construction residential remodeling, commercial and institutional construction industries. Its products include architectural stone, resin-based exterior siding accessories such as specialty siding and shutters; roofing, trim board, decking, railing concrete block, and various other building products. It operates through the Headwaters Building Products and Headwaters Construction Materials segments. The Headwaters Building Products segment offers siding and trimboard, architectural stone, specialty roofing and concrete block products. The Headwaters Construction Materials segment refers to the sale of fly ash in the United States. The company was founded in 1995 and is headquartered in South Jordan, UT.