Shares of American Woodmark Co. (NASDAQ:AMWD) dropped 8.2% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $110.60 and last traded at $111.75. Approximately 508,887 shares were traded during mid-day trading, an increase of 293% from the average daily volume of 129,362 shares. The stock had previously closed at $121.75.
The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.04). The business had revenue of $292.80 million for the quarter, compared to analysts’ expectations of $276.60 million. American Woodmark had a return on equity of 17.54% and a net margin of 5.56%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share.
AMWD has been the subject of a number of recent analyst reports. Zacks Investment Research raised American Woodmark from a “sell” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, December 6th. BidaskClub downgraded American Woodmark from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Robert W. Baird lifted their price target on American Woodmark from $108.00 to $142.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Finally, Longbow Research raised American Woodmark from a “neutral” rating to a “buy” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $140.00.
Several institutional investors have recently bought and sold shares of AMWD. Citadel Advisors LLC lifted its holdings in shares of American Woodmark by 6,739.9% in the 4th quarter. Citadel Advisors LLC now owns 150,478 shares of the company’s stock valued at $19,599,000 after purchasing an additional 148,278 shares during the last quarter. Renaissance Technologies LLC raised its stake in American Woodmark by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 742,101 shares of the company’s stock valued at $96,659,000 after acquiring an additional 83,801 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in American Woodmark during the 4th quarter valued at approximately $8,238,000. Deutsche Bank AG raised its stake in American Woodmark by 422.6% during the 4th quarter. Deutsche Bank AG now owns 67,780 shares of the company’s stock valued at $8,827,000 after acquiring an additional 54,810 shares during the last quarter. Finally, BlackRock Inc. raised its stake in American Woodmark by 2.7% during the 4th quarter. BlackRock Inc. now owns 1,943,653 shares of the company’s stock valued at $253,160,000 after acquiring an additional 51,876 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.68 and a current ratio of 2.27. The firm has a market cap of $1,960.00, a P/E ratio of 24.72 and a beta of 1.58.
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About American Woodmark
American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. The Company offers framed stock cabinets in approximately 500 different cabinet lines, ranging in price from relatively inexpensive to medium-priced styles. Styles vary by design and color from natural wood finishes to low-pressure laminate surfaces.
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