American Woodmark (NASDAQ:AMWD) Shares Gap Down on Disappointing Earnings

Shares of American Woodmark Co. (NASDAQ:AMWD) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $92.66, but opened at $85.34. American Woodmark shares last traded at $85.84, with a volume of 45,744 shares trading hands.

The company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). The business had revenue of $453.28 million for the quarter, compared to analyst estimates of $437.80 million. American Woodmark had a net margin of 6.38% and a return on equity of 16.72%.

Analyst Upgrades and Downgrades

AMWD has been the subject of a number of research reports. Robert W. Baird lowered their price target on shares of American Woodmark from $122.00 to $116.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com cut American Woodmark from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.75.

Institutional Trading of American Woodmark

Several institutional investors and hedge funds have recently made changes to their positions in AMWD. Vanguard Group Inc. boosted its position in shares of American Woodmark by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,710,774 shares of the company’s stock worth $173,917,000 after purchasing an additional 19,693 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of American Woodmark by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,206,036 shares of the company’s stock worth $111,981,000 after buying an additional 69,101 shares during the period. Pacer Advisors Inc. increased its stake in shares of American Woodmark by 49.6% in the 4th quarter. Pacer Advisors Inc. now owns 553,337 shares of the company’s stock valued at $51,377,000 after acquiring an additional 183,336 shares during the last quarter. Invesco Ltd. raised its position in shares of American Woodmark by 51.8% in the 3rd quarter. Invesco Ltd. now owns 312,984 shares of the company’s stock valued at $23,665,000 after acquiring an additional 106,748 shares during the period. Finally, LSV Asset Management boosted its stake in American Woodmark by 19.4% during the 1st quarter. LSV Asset Management now owns 167,114 shares of the company’s stock worth $16,989,000 after acquiring an additional 27,156 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

American Woodmark Stock Performance

The company has a quick ratio of 1.27, a current ratio of 2.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 11.69 and a beta of 1.73. The stock’s fifty day moving average is $95.98 and its 200-day moving average is $91.03.

About American Woodmark

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.