American Woodmark (NASDAQ:AMWD) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

American Woodmark (NASDAQ:AMWD) issued its quarterly earnings data on Monday. The company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.24), MarketWatch Earnings reports. American Woodmark had a return on equity of 12.38% and a net margin of 2.52%. The firm had revenue of $453.20 million during the quarter, compared to the consensus estimate of $466.50 million. During the same period in the previous year, the company posted $1.97 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis.

Shares of American Woodmark stock traded up $0.53 on Wednesday, reaching $68.32. 89,364 shares of the company traded hands, compared to its average volume of 108,157. American Woodmark has a 52 week low of $64.08 and a 52 week high of $108.81. The business has a 50 day moving average of $68.95. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 25.59 and a beta of 2.16. The company has a quick ratio of 0.87, a current ratio of 1.79 and a debt-to-equity ratio of 0.67.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of American Woodmark from a “hold” rating to a “strong sell” rating in a research report on Friday, November 19th. Jefferies Financial Group downgraded shares of American Woodmark from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $84.00 to $77.00 in a research report on Wednesday, November 17th. Robert W. Baird reduced their price objective on shares of American Woodmark from $90.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, September 1st. Finally, Loop Capital upped their price objective on shares of American Woodmark from $93.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, American Woodmark has an average rating of “Hold” and a consensus price target of $92.00.

In related news, Director Vance W. Tang bought 6,000 shares of American Woodmark stock in a transaction dated Tuesday, September 14th. The stock was purchased at an average cost of $66.06 per share, with a total value of $396,360.00. Following 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 can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AMWD. Royal Bank of Canada lifted its stake in shares of American Woodmark by 48.5% during the 2nd quarter. Royal Bank of Canada now owns 2,040 shares of the company’s stock valued at $167,000 after buying an additional 666 shares in the last quarter. Morgan Stanley lifted its stake in shares of American Woodmark by 20.9% during the 3rd quarter. Morgan Stanley now owns 92,431 shares of the company’s stock valued at $6,043,000 after buying an additional 15,980 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in American Woodmark by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 174,435 shares of the company’s stock worth $11,403,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

About American Woodmark

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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