American Woodmark (NASDAQ:AMWD) Reaches New 52-Week Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyAmerican Woodmark Corporation (NASDAQ:AMWD – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $38.22 and last traded at $38.90, with a volume of 39583 shares changing hands. The stock had previously closed at $40.02.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on AMWD. Robert W. Baird cut their target price on shares of American Woodmark from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Weiss Ratings lowered shares of American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, Zelman & Associates upgraded shares of American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, American Woodmark currently has an average rating of “Hold” and a consensus price target of $60.33.
Get Our Latest Report on American Woodmark
American Woodmark Trading Down 1.8%
The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 2.37. The stock has a market capitalization of $537.20 million, a price-to-earnings ratio of 31.78 and a beta of 1.28. The business has a fifty day simple moving average of $55.13 and a 200 day simple moving average of $58.44.
American Woodmark (NASDAQ:AMWD – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.34. The company had revenue of $324.30 million during the quarter, compared to the consensus estimate of $358.14 million. American Woodmark had a return on equity of 6.15% and a net margin of 1.15%.The company’s revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share.
Institutional Trading of American Woodmark
Hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP bought a new stake in shares of American Woodmark in the third quarter valued at approximately $3,430,000. Cooke & Bieler LP grew its position in American Woodmark by 3.7% during the third quarter. Cooke & Bieler LP now owns 930,460 shares of the company’s stock worth $62,118,000 after buying an additional 32,832 shares in the last quarter. Credit Industriel ET Commercial bought a new position in American Woodmark during the 3rd quarter worth $2,670,000. New York Life Investment Management LLC acquired a new position in American Woodmark in the 3rd quarter valued at $2,952,000. Finally, Alpine Associates Management Inc. acquired a new position in American Woodmark in the 3rd quarter valued at $13,981,000. Institutional investors and hedge funds own 95.47% of the company’s stock.
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.