American Woodmark (NASDAQ:AMWD) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

American Woodmark (NASDAQ:AMWD – Get Rating) issued its quarterly earnings data on Thursday. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04, MarketWatch Earnings reports. The company had revenue of $501.70 million during the quarter, compared to analyst estimates of $493.21 million. American Woodmark had a positive return on equity of 7.22% and a negative net margin of 2.26%. American Woodmark’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share.

AMWD opened at $53.03 on Friday. The stock has a market cap of $878.76 million, a price-to-earnings ratio of -21.21 and a beta of 1.98. The stock’s 50 day moving average price is $49.12 and its 200-day moving average price is $57.30. American Woodmark has a one year low of $44.01 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 1.99.

In other news, CFO Paul Joachimczyk acquired 2,031 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were bought at an average price of $54.71 per share, with a total value of $111,116.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Rodriguez acquired 1,005 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The stock was purchased at an average cost of $49.64 per share, for a total transaction of $49,888.20. Following the purchase, the director now owns 2,882 shares of the company’s stock, valued at $143,062.48. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 15,036 shares of company stock worth $798,224. Insiders own 1.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in American Woodmark by 48.5% during the second quarter. Royal Bank of Canada now owns 2,040 shares of the company’s stock worth $167,000 after buying an additional 666 shares during the period. Morgan Stanley lifted its holdings in American Woodmark by 20.9% during the third quarter. Morgan Stanley now owns 92,431 shares of the company’s stock worth $6,043,000 after buying an additional 15,980 shares during the period. Bank of New York Mellon Corp lifted its holdings in American Woodmark by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 174,435 shares of the company’s stock worth $11,403,000 after buying an additional 691 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in American Woodmark by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 193,503 shares of the company’s stock worth $12,617,000 after buying an additional 14,913 shares during the period. Finally, Barclays PLC lifted its holdings in American Woodmark by 36.7% during the fourth quarter. Barclays PLC now owns 30,028 shares of the company’s stock worth $1,957,000 after buying an additional 8,060 shares during the period. 93.19% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on AMWD. Robert W. Baird lowered their target price on American Woodmark from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 17th. StockNews.com began coverage on American Woodmark in a research report on Thursday, March 31st. They set a “sell” rating on the stock. TheStreet downgraded American Woodmark from a “c” rating to a “d+” rating in a research report on Thursday, February 24th. Loop Capital downgraded American Woodmark from a “buy” rating to a “hold” rating and lowered their target price for the company from $63.00 to $59.00 in a research report on Wednesday, March 23rd. Finally, Zacks Investment Research upgraded American Woodmark from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, American Woodmark presently has an average rating of “Hold” and an average target price of $64.75.

About American Woodmark (Get Rating)

American Woodmark Corporation manufactures and distributes kitchen, bath, and home organization products for the remodelling and new home construction markets in the United States. It offers made-to-order and cash and carry products. The company also provides turnkey installation services to its direct builder customers through a network of eight service centers.

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