Headwaters Inc. was Downgraded to a Hold Rating at D.A. DavidsonBy Ryan Adsit
In a report released today, Brent Thielman from D.A. Davidson downgraded Headwaters Inc. (NYSE: HW) to Hold, with a price target of $24.30. The company’s shares closed yesterday at $23.52, close to its 52-week high of $23.87.
According to TipRanks.com, Thielman is a 3-star analyst with an average return of 3.0% and a 53.1% success rate. Thielman covers the Industrial Goods sector, focusing on stocks such as Martin Marietta Materials, Mueller Water Products, and Eagle Materials Inc.
Currently, the analyst consensus on Headwaters Inc. is Moderate Buy and the average price target is $24.25, representing a 3.1% upside.
In a report released yesterday, Canaccord Genuity also downgraded the stock to Hold.
The company has a one year high of $23.87 and a one year low of $13.62. Currently, Headwaters Inc. has an average volume of 877.1K.
Based on the recent corporate insider activity of 16 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.