American Woodmark (NASDAQ:AMWD) Sees Strong Trading Volume – Here’s Why

Shares of American Woodmark Corporation (NASDAQ:AMWD) saw unusually-high trading volume on Tuesday . Approximately 658,416 shares changed hands during 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.

Wall Street Analysts Forecast Growth

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

American Woodmark Stock Performance

The firm has a market cap of $620.24 million, a price-to-earnings ratio of 36.70 and a beta of 1.34. The stock’s fifty day moving average is $40.12 and its two-hundred day moving average is $50.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 2.37.

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. The firm had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $358.14 million. American Woodmark had a net margin of 1.15% and a return on equity of 6.15%. American Woodmark’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS.

Institutional Trading of American Woodmark

Several hedge funds have recently added to or reduced their stakes in AMWD. Pzena Investment Management LLC increased its holdings in shares of American Woodmark by 42.9% during the first quarter. Pzena Investment Management LLC now owns 1,643,562 shares of the company’s stock valued at $65,463,000 after purchasing an additional 493,348 shares during the period. Franklin Resources Inc. grew its position in American Woodmark by 8,028.2% in the 4th quarter. Franklin Resources Inc. now owns 408,932 shares of the company’s stock valued at $22,041,000 after buying an additional 403,901 shares in the last quarter. Citigroup Inc. increased its stake in American Woodmark by 2,117.7% during the 3rd quarter. Citigroup Inc. now owns 400,343 shares of the company’s stock valued at $26,727,000 after buying an additional 382,291 shares during the period. Toronto Dominion Bank bought a new stake in shares of American Woodmark during the 4th quarter worth about $17,186,000. Finally, Magnetar Financial LLC acquired a new stake in shares of American Woodmark in the 3rd quarter worth approximately $20,665,000. Institutional investors own 95.47% of the company’s stock.

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.