American Woodmark (NASDAQ:AMWD) Shares Gap Down Following Weak Earnings

Shares of American Woodmark Co. (NASDAQ:AMWD) gapped down before the market opened 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 (EPS) 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 analysts’ expectations of $437.80 million. American Woodmark had a net margin of 6.29% and a return on equity of 15.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMWD shares. StockNews.com downgraded shares of American Woodmark from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Robert W. Baird decreased their price target on shares of American Woodmark from $122.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Loop Capital decreased their price target on shares of American Woodmark from $112.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Woodmark presently has an average rating of “Hold” and a consensus target price of $95.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its position in American Woodmark by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 9,813 shares of the company’s stock valued at $911,000 after acquiring an additional 118 shares during the last quarter. ProShare Advisors LLC increased its position in American Woodmark by 5.0% during the first quarter. ProShare Advisors LLC now owns 3,235 shares of the company’s stock valued at $329,000 after acquiring an additional 154 shares during the last quarter. Rafferty Asset Management LLC increased its position in American Woodmark by 7.9% during the third quarter. Rafferty Asset Management LLC now owns 3,946 shares of the company’s stock valued at $298,000 after acquiring an additional 290 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of American Woodmark by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 11,263 shares of the company’s stock worth $1,046,000 after purchasing an additional 337 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of American Woodmark by 9.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,097 shares of the company’s stock worth $380,000 after purchasing an additional 365 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

American Woodmark Trading Down 3.9 %

The stock’s fifty day moving average price is $95.86 and its 200 day moving average price is $91.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.14 and a quick ratio of 1.27. The stock has a market capitalization of $1.41 billion, a P/E ratio of 12.47 and a beta of 1.73.

American Woodmark Company Profile

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.