American Woodmark (NASDAQ:AMWD) Shares Gap Down – Here’s What Happened

American Woodmark Corporation (NASDAQ:AMWD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $68.78, but opened at $54.40. American Woodmark shares last traded at $59.3450, with a volume of 63,165 shares trading hands.

Wall Street Analysts Forecast Growth

AMWD has been the topic of a number of research analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $60.00 target price (up from $57.00) on shares of American Woodmark in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of American Woodmark in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Woodmark currently has a consensus rating of “Hold” and a consensus target price of $66.00.

American Woodmark Stock Up 2.9%

The stock’s fifty day moving average is $58.80 and its two-hundred day moving average is $60.72. The company has a current ratio of 2.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.39. The firm has a market cap of $856.13 million, a P/E ratio of 13.92 and a beta of 1.27.

American Woodmark (NASDAQ:AMWD) last posted its earnings results on Tuesday, November 25th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.44). The business had revenue of $394.64 million for the quarter, compared to analysts’ expectations of $410.62 million. American Woodmark had a return on equity of 7.13% and a net margin of 3.94%.American Woodmark’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMWD. Franklin Resources Inc. lifted its holdings in shares of American Woodmark by 8,028.2% in the 4th quarter. Franklin Resources Inc. now owns 408,932 shares of the company’s stock worth $22,041,000 after acquiring an additional 403,901 shares during the last quarter. Citigroup Inc. grew its holdings in shares of American Woodmark by 2,117.7% during the 3rd quarter. Citigroup Inc. now owns 400,343 shares of the company’s stock valued at $26,727,000 after purchasing an additional 382,291 shares during the last quarter. Magnetar Financial LLC purchased a new position in American Woodmark in the 3rd quarter worth $20,665,000. AQR Arbitrage LLC bought a new stake in American Woodmark in the third quarter worth $15,722,000. Finally, Stonehill Capital Management LLC lifted its stake in American Woodmark by 1,065.7% in the third quarter. Stonehill Capital Management LLC now owns 233,139 shares of the company’s stock worth $15,564,000 after purchasing an additional 213,139 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

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.