American Woodmark Co. (NASDAQ:AMWD - Get Free Report)'s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $71.15, but opened at $64.08. American Woodmark shares last traded at $63.82, with a volume of 23,947 shares traded.
The company reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.27). American Woodmark had a return on equity of 12.70% and a net margin of 5.90%. The business had revenue of $397.58 million during the quarter, compared to analyst estimates of $405.72 million.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AMWD. Robert W. Baird lifted their price target on American Woodmark from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Loop Capital reduced their price objective on American Woodmark from $119.00 to $114.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Finally, Wolfe Research downgraded American Woodmark from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $114.00.
Check Out Our Latest Report on AMWD
Insider Transactions at American Woodmark
In related news, Director James G. Davis sold 2,821 shares of American Woodmark stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.23, for a total value of $231,970.83. Following the completion of the transaction, the director now owns 25,823 shares in the company, valued at $2,123,425.29. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 5,750 shares of company stock valued at $474,548. 1.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On American Woodmark
A number of hedge funds and other institutional investors have recently modified their holdings of AMWD. Paradigm Capital Management Inc. NY acquired a new position in shares of American Woodmark during the 4th quarter worth about $23,954,000. Franklin Resources Inc. increased its stake in American Woodmark by 266.0% in the fourth 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 holdings in American Woodmark by 1,570.6% during the fourth quarter. Victory Capital Management Inc. now owns 257,440 shares of the company's stock worth $20,474,000 after purchasing an additional 242,030 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of American Woodmark by 59.1% during the 3rd quarter. Pzena Investment Management LLC now owns 483,562 shares of the company's stock worth $45,189,000 after buying an additional 179,644 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of American Woodmark during the 3rd quarter worth approximately $15,967,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.
American Woodmark Stock Performance
The firm's fifty day moving average price is $77.31 and its 200-day moving average price is $86.76. The company has a current ratio of 1.93, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The firm has a market cap of $913.33 million, a price-to-earnings ratio of 9.07 and a beta of 1.61.
American Woodmark Company Profile
(
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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.
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