American Woodmark (NASDAQ:AMWD) Shares Gap Down Following Analyst Downgrade

American Woodmark Corporation (NASDAQ:AMWD) shares gapped down before the market opened on Monday after Baird R W downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $59.90, but opened at $57.81. American Woodmark shares last traded at $59.2910, with a volume of 15,930 shares traded.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Woodmark in a research report on Wednesday, October 8th. Robert W. Baird restated a “neutral” rating and set a $60.00 price objective (up from $57.00) on shares of American Woodmark in a report on Monday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in shares of American Woodmark during the third quarter valued at approximately $36,000. Advisory Services Network LLC acquired a new position in American Woodmark during the 3rd quarter valued at approximately $57,000. GAMMA Investing LLC boosted its position in American Woodmark by 35.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,080 shares of the company’s stock valued at $58,000 after purchasing an additional 285 shares during the period. Canada Pension Plan Investment Board bought a new position in American Woodmark during the 2nd quarter worth $64,000. Finally, CWM LLC increased its position in American Woodmark by 116.0% in the second quarter. CWM LLC now owns 1,296 shares of the company’s stock worth $69,000 after buying an additional 696 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

American Woodmark Price Performance

The stock has a market capitalization of $895.62 million, a price-to-earnings ratio of 14.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.15 and a quick ratio of 1.11. The company has a 50-day simple moving average of $54.86 and a two-hundred day simple moving average of $59.68.

American Woodmark (NASDAQ:AMWD) last posted its earnings results on Tuesday, November 25th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.44). The firm had revenue of $394.64 million during the quarter, compared to the consensus estimate of $410.62 million. American Woodmark had a return on equity of 7.13% and a net margin of 3.94%.American Woodmark’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS.

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.