American Woodmark (NASDAQ:AMWD) Shares Gap Down on Disappointing Earnings

American Woodmark Co. (NASDAQ:AMWD)’s share price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $99.85, but opened at $85.03. American Woodmark shares last traded at $89.25, with a volume of 56,459 shares traded.

The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48). The business had revenue of $459.10 million for the quarter, compared to analysts’ expectations of $475.37 million. American Woodmark had a return on equity of 15.43% and a net margin of 6.29%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMWD shares. Loop Capital reduced their target price on American Woodmark from $100.00 to $98.00 and set a “hold” rating for the company in a report on Wednesday. Zelman & Associates reissued a “neutral” rating on shares of American Woodmark in a research note on Wednesday, July 17th. Robert W. Baird lowered their target price on shares of American Woodmark from $116.00 to $112.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Wolfe Research raised shares of American Woodmark from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.00.

Institutional Investors Weigh In On American Woodmark

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of American Woodmark in the 2nd quarter valued at $66,000. Picton Mahoney Asset Management purchased a new stake in American Woodmark during the second quarter worth about $71,000. DekaBank Deutsche Girozentrale lifted its position in shares of American Woodmark by 67.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 932 shares of the company’s stock worth $94,000 after purchasing an additional 377 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of American Woodmark by 67.8% in the first quarter. EntryPoint Capital LLC now owns 1,562 shares of the company’s stock valued at $159,000 after purchasing an additional 631 shares during the period. Finally, Covestor Ltd grew its holdings in shares of American Woodmark by 1,230.2% in the first quarter. Covestor Ltd now owns 1,716 shares of the company’s stock valued at $175,000 after purchasing an additional 1,587 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

American Woodmark Stock Performance

The stock has a market capitalization of $1.38 billion, a PE ratio of 12.37 and a beta of 1.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 2.06. The firm’s 50 day moving average is $88.59 and its two-hundred day moving average is $91.70.

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.