American Woodmark (NASDAQ:AMWD) Shares Gap Down After Analyst Downgrade

American Woodmark Corporation (NASDAQ:AMWD)’s stock price gapped down prior to trading on Monday after Baird R W downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $59.90, but opened at $57.81. American Woodmark shares last traded at $59.2910, with a volume of 15,930 shares trading hands.

Several other brokerages have also weighed in on AMWD. Weiss Ratings reissued a “hold (c)” rating on shares of American Woodmark in a report on Wednesday, October 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $57.00) on shares of American Woodmark in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its holdings in shares of American Woodmark by 0.4% in the third quarter. Pzena Investment Management LLC now owns 1,152,739 shares of the company’s stock worth $76,957,000 after purchasing an additional 4,408 shares during the period. Cooke & Bieler LP increased its stake in American Woodmark by 3.7% in the 3rd quarter. Cooke & Bieler LP now owns 930,460 shares of the company’s stock worth $62,118,000 after acquiring an additional 32,832 shares during the last quarter. Citigroup Inc. raised its holdings in shares of American Woodmark by 2,117.7% in the 3rd quarter. Citigroup Inc. now owns 400,343 shares of the company’s stock valued at $26,727,000 after acquiring an additional 382,291 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of American Woodmark by 7.3% during the 2nd quarter. Systematic Financial Management LP now owns 391,562 shares of the company’s stock valued at $20,898,000 after acquiring an additional 26,633 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of American Woodmark by 0.5% during the second quarter. Franklin Resources Inc. now owns 367,053 shares of the company’s stock worth $19,590,000 after purchasing an additional 1,955 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

American Woodmark Stock Performance

The company’s 50-day moving average is $54.86 and its two-hundred day moving average is $59.68. The company has a market capitalization of $895.62 million, a P/E ratio of 14.57 and a beta of 1.27. The company has a quick ratio of 1.11, a current ratio of 2.15 and a debt-to-equity ratio of 0.39.

American Woodmark (NASDAQ:AMWD) last released its quarterly earnings results on Tuesday, November 25th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.44). American Woodmark had a return on equity of 7.13% and a net margin of 3.94%.The company had revenue of $394.64 million during the quarter, compared to analysts’ expectations of $410.62 million. During the same period in the prior year, the firm earned $2.08 EPS. American Woodmark’s quarterly revenue was down 12.8% on a year-over-year basis.

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.