American Woodmark (NASDAQ:AMWD) Issues Quarterly Earnings Results, Misses Estimates By $0.45 EPS

American Woodmark (NASDAQ:AMWD) released its earnings results on Tuesday. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.45), MarketWatch Earnings reports. The business had revenue of $453.20 million during the quarter, compared to analyst estimates of $466.50 million. American Woodmark had a net margin of 2.52% and a return on equity of 12.38%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share.

Shares of NASDAQ AMWD opened at $67.79 on Wednesday. American Woodmark has a 1-year low of $64.08 and a 1-year high of $108.81. The stock has a 50-day moving average of $68.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.79 and a quick ratio of 0.87. The stock has a market capitalization of $1.12 billion, a P/E ratio of 25.39 and a beta of 2.16.

Several research firms recently commented on AMWD. Zacks Investment Research lowered American Woodmark from a “hold” rating to a “strong sell” rating in a research note on Friday, November 19th. Loop Capital upped their price target on American Woodmark from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Jefferies Financial Group lowered American Woodmark from a “buy” rating to a “hold” rating and dropped their price target for the stock from $84.00 to $77.00 in a research note on Wednesday, November 17th. Finally, Robert W. Baird dropped their price target on American Woodmark from $90.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.00.

In related news, Director Vance W. Tang bought 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The stock was bought at an average price of $66.06 per share, with a total value of $396,360.00. Following the completion of the transaction, the director now directly owns 27,750 shares of the company’s stock, valued at $1,833,165. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in American Woodmark by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 174,435 shares of the company’s stock valued at $11,403,000 after purchasing an additional 691 shares during the last quarter. Morgan Stanley boosted its holdings in American Woodmark by 20.9% in the third quarter. Morgan Stanley now owns 92,431 shares of the company’s stock valued at $6,043,000 after purchasing an additional 15,980 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in American Woodmark by 48.5% in the second quarter. Royal Bank of Canada now owns 2,040 shares of the company’s stock valued at $167,000 after purchasing an additional 666 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

American Woodmark Company Profile

American Woodmark Corp. manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. It operates through the American Woodmark, Timberlake, Shenandoah Cabinetry, Waypoint Living Spaces, Estate by RSI, Continental Cabinets and VillaBath by RSI, Stor-It-All and Professional Cabinet Solutions.

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Earnings History for American Woodmark (NASDAQ:AMWD)

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