American Woodmark (NASDAQ:AMWD) Shares Gap Down After Earnings Miss

American Woodmark Co. (NASDAQ:AMWD)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $71.15, but opened at $64.08. American Woodmark shares last traded at $63.82, with a volume of 23,947 shares.

The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.27). American Woodmark had a net margin of 5.90% and a return on equity of 12.70%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMWD. Robert W. Baird boosted their price objective on shares of American Woodmark from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Loop Capital lowered their price objective on shares of American Woodmark from $119.00 to $114.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Wolfe Research cut shares of American Woodmark from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, American Woodmark has a consensus rating of “Hold” and a consensus price target of $114.00.

Insider Buying and Selling

In other American Woodmark news, CEO Michael Scott Culbreth sold 3,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.10, for a total value of $315,350.00. Following the transaction, the chief executive officer now owns 106,432 shares in the company, valued at $9,589,523.20. The trade was a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James G. Davis sold 1,679 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $84.33, for a total transaction of $141,590.07. Following the completion of the transaction, the director now owns 28,644 shares in the company, valued at $2,415,548.52. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,250 shares of company stock valued at $789,898. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On American Woodmark

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in shares of American Woodmark in the 3rd quarter valued at about $749,000. Barclays PLC raised its stake in shares of American Woodmark by 267.9% in the 3rd quarter. Barclays PLC now owns 31,316 shares of the company’s stock valued at $2,927,000 after purchasing an additional 22,804 shares in the last quarter. Creative Planning acquired a new stake in American Woodmark during the third quarter worth about $312,000. Franklin Resources Inc. raised its stake in American Woodmark by 249.1% during the third quarter. Franklin Resources Inc. now owns 101,746 shares of the company’s stock worth $9,572,000 after acquiring an additional 72,600 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in American Woodmark by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 46,463 shares of the company’s stock worth $4,342,000 after acquiring an additional 11,975 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

American Woodmark Trading Down 10.8 %

The stock has a market cap of $954.85 million, a price-to-earnings ratio of 9.49 and a beta of 1.61. The firm’s 50 day moving average is $78.06 and its two-hundred day moving average is $87.16. The company has a quick ratio of 1.05, a current ratio of 1.93 and a debt-to-equity ratio of 0.40.

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.