Headwaters acquires assets of LA Ash Products, Services Headwaters announced acquisition of the assets of LA Ash Products and Services. The company said, "Combined with LA Ash, we expect incremental dry and hydrated CFB ash sales of more than 300K tons primarily in the Louisiana and Texas markets. The acquisition was paid for in cash and will be accretive to earnings in 2014."
Headwaters downgraded to Neutral from Outperform at Wedbush Wedbush downgraded Headwaters to Neutral and maintained its $21 price target. The firm believes top-line growth will decelerate as acquisitions are integrated and expects mix will be negatively impacted by site service contracts from utilities, leading to EBITDA margin deceleration.