American Woodmark (NASDAQ:AMWD) Trading 8.6% Higher – Time to Buy?

American Woodmark Corporation (NASDAQ:AMWD) shot up 8.6% during trading on Wednesday . The stock traded as high as $45.05 and last traded at $46.2280. 72,946 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 223,521 shares. The stock had previously closed at $42.57.

Analyst Ratings Changes

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

American Woodmark Trading Up 9.2%

The stock has a 50 day simple moving average of $40.18 and a 200-day simple moving average of $50.08. The firm has a market capitalization of $677.21 million, a P/E ratio of 40.07 and a beta of 1.34. The company has a current ratio of 2.37, a quick ratio of 1.13 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 (EPS) 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 the consensus estimate of $358.14 million. American Woodmark had a return on equity of 6.15% and a net margin of 1.15%.The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMWD. Versor Investments LP purchased a new stake in American Woodmark in the 3rd quarter worth approximately $3,430,000. New York Life Investment Management LLC purchased a new stake in American Woodmark in the 3rd quarter worth approximately $2,952,000. Credit Industriel ET Commercial purchased a new stake in American Woodmark in the 3rd quarter worth approximately $2,670,000. Grace & White Inc. NY increased its holdings in American Woodmark by 39.7% in the 4th quarter. Grace & White Inc. NY now owns 92,532 shares of the company’s stock worth $4,987,000 after acquiring an additional 26,300 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in American Woodmark in the 3rd quarter worth approximately $13,981,000. 95.47% of the stock is currently owned by institutional investors.

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.