Wedbush Adjusts Headwaters Estimates

According to a research report published today, Wedbush is reiterating its positive stance on Headwaters'

shares after the company reported relatively in-line revenues and improved margins. “While volume challenges remain in the residential housing market and likely keep a lid on revenue growth in Light Building Products (LBP) and Heavy Construction Materials (HCM) segments, we believe expectations remain in check and, with the multi-year cost reduction efforts, the HW margin story looks to be on solid footing,” Wedbush said in the report. Wedbush maintains its Outperform rating and $5 PT on Headwaters, which closed yesterday at $2.65.