American Woodmark (NASDAQ:AMWD) Shares Down 4% – Here’s What Happened

Shares of American Woodmark Co. (NASDAQ:AMWD) traded down 4% on Monday . The stock traded as low as $50.80 and last traded at $50.77. 31,873 shares were traded during trading, a decline of 81% from the average session volume of 168,864 shares. The stock had previously closed at $52.91.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Zelman & Associates reissued an “underperform” rating on shares of American Woodmark in a research note on Monday, April 14th. Robert W. Baird reduced their price objective on American Woodmark from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Loop Capital lowered their target price on shares of American Woodmark from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, Wall Street Zen lowered shares of American Woodmark from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, American Woodmark currently has an average rating of “Hold” and a consensus price target of $83.33.

American Woodmark Stock Down 1.8%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.93. The business has a 50 day simple moving average of $57.40 and a 200-day simple moving average of $67.93. The firm has a market capitalization of $770.68 million, a price-to-earnings ratio of 7.77 and a beta of 1.25.

American Woodmark (NASDAQ:AMWD) last issued its earnings results on Thursday, May 29th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.16. American Woodmark had a net margin of 5.90% and a return on equity of 12.70%. The company had revenue of $400.39 million for the quarter, compared to the consensus estimate of $427.39 million. During the same period in the previous year, the firm earned $1.70 earnings per share. American Woodmark’s quarterly revenue was down 11.7% compared to the same quarter last year.

Institutional Trading of American Woodmark

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC lifted its position in American Woodmark by 71.7% in the first quarter. Pzena Investment Management LLC now owns 840,674 shares of the company’s stock valued at $49,457,000 after buying an additional 351,157 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in shares of American Woodmark during the 4th quarter worth approximately $23,954,000. Franklin Resources Inc. increased its holdings in American Woodmark by 266.0% in the 4th quarter. Franklin Resources Inc. now owns 372,390 shares of the company’s stock valued at $29,616,000 after purchasing an additional 270,644 shares during the last quarter. Victory Capital Management Inc. raised its position in American Woodmark by 1,570.6% in the fourth quarter. Victory Capital Management Inc. now owns 257,440 shares of the company’s stock valued at $20,474,000 after purchasing an additional 242,030 shares during the period. Finally, Millennium Management LLC raised its position in American Woodmark by 277.0% in the first quarter. Millennium Management LLC now owns 200,657 shares of the company’s stock valued at $11,805,000 after purchasing an additional 147,427 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

American Woodmark Company Profile

American Woodmark Corporation manufactures and distributes kitchen, bath, office, home organization, and hardware products for the remodelling and new home construction markets in the United States. The company offers made-to-order and cash and carry products. It also provides turnkey installation services to its direct builder customers through a network of eight service centers.