American Woodmark (NASDAQ:AMWD) Stock Price Down 5.6% – Here’s What Happened

Shares of American Woodmark Corporation (NASDAQ:AMWD) dropped 5.6% during mid-day trading on Monday . The company traded as low as $41.87 and last traded at $41.8390. Approximately 21,650 shares traded hands during trading, a decline of 89% from the average daily volume of 192,186 shares. The stock had previously closed at $44.34.

Analysts Set New Price Targets

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

American Woodmark Price Performance

The stock has a market capitalization of $586.30 million, a P/E ratio of 34.69 and a beta of 1.34. The business’s 50 day simple moving average is $43.27 and its two-hundred day simple moving average is $53.06. 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 posted its earnings results on Thursday, February 26th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.11 by $0.34. American Woodmark had a net margin of 1.15% and a return on equity of 6.15%. The company had revenue of $324.30 million during the quarter, compared to the consensus estimate of $358.14 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis.

Institutional Trading of American Woodmark

Several institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of American Woodmark by 19.9% in the second quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock valued at $115,000 after purchasing an additional 357 shares in the last quarter. Swiss National Bank grew its holdings in American Woodmark by 1.4% during the fourth quarter. Swiss National Bank now owns 28,700 shares of the company’s stock worth $1,547,000 after buying an additional 400 shares in the last quarter. Federated Hermes Inc. purchased a new stake in American Woodmark in the 3rd quarter valued at $36,000. Mariner LLC raised its position in American Woodmark by 14.6% in the 3rd quarter. Mariner LLC now owns 4,375 shares of the company’s stock valued at $292,000 after buying an additional 558 shares during the last quarter. Finally, Comerica Bank raised its position in American Woodmark by 7.8% in the 4th quarter. Comerica Bank now owns 10,341 shares of the company’s stock valued at $557,000 after buying an additional 748 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

American Woodmark Company Profile

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.