American Woodmark (NASDAQ:AMWD) Sees Strong Trading Volume – What’s Next?

American Woodmark Corporation (NASDAQ:AMWD) shares saw unusually-strong trading volume on Tuesday . Approximately 658,416 shares were traded during mid-day trading, an increase of 197% from the previous session’s volume of 222,057 shares.The stock last traded at $42.88 and had previously closed at $38.90.

Analysts Set New Price Targets

A number of research firms have recently commented on AMWD. Zelman & Associates raised American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Friday, February 27th. Robert W. Baird dropped their price target on shares of American Woodmark from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Finally, Wall Street Zen raised shares of American Woodmark to a “sell” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.67.

American Woodmark Stock Up 9.4%

The business has a 50-day moving average price of $40.12 and a 200-day moving average price of $50.17. The company has a market capitalization of $620.24 million, a price-to-earnings ratio of 36.70 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 2.37 and a debt-to-equity ratio of 0.40.

American Woodmark (NASDAQ:AMWD) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.34. The business had revenue of $324.30 million during the quarter, compared to analyst estimates of $358.14 million. American Woodmark had a return on equity of 6.15% and a net margin of 1.15%.American Woodmark’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS.

Institutional Investors Weigh In On American Woodmark

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in American Woodmark in the 3rd quarter worth approximately $36,000. Advisory Services Network LLC purchased a new stake in shares of American Woodmark in the third quarter valued at $57,000. Canada Pension Plan Investment Board acquired a new stake in shares of American Woodmark in the second quarter worth $64,000. Osaic Holdings Inc. grew its holdings in shares of American Woodmark by 19.9% during the second quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock valued at $115,000 after buying an additional 357 shares in the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new position in American Woodmark during the third quarter valued at $120,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

About American Woodmark

American Woodmark Corporation is a leading manufacturer and distributor of kitchen cabinets and bathroom vanities in North America. The company designs, builds and ships cabinetry products for a broad range of residential customers, including new-home builders, professional remodelers and specialty dealers. Its portfolio encompasses framed and frameless cabinet lines, along with accessory products such as mouldings, panels and hardware components. American Woodmark’s products are sold under the American Woodmark and Waypoint Living Spaces brands through a diversified network of home centers, independent dealers and direct-to-builder channels.

Headquartered in Winchester, Virginia, American Woodmark was founded in 1980 and has grown through a combination of organic expansion and strategic acquisitions.