American Woodmark (NASDAQ:AMWD) Sets New 1-Year Low – Here’s Why

Shares of American Woodmark Corporation (NASDAQ:AMWD) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $35.50 and last traded at $35.7010, with a volume of 61563 shares trading hands. The stock had previously closed at $36.49.

Analyst Ratings Changes

AMWD has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of American Woodmark from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings lowered shares of American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Zelman & Associates raised shares of American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a report on Friday, February 27th. Finally, Wall Street Zen raised shares of American Woodmark to a “sell” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.67.

American Woodmark Stock Up 2.6%

The company’s 50 day moving average price is $40.98 and its 200 day moving average price is $51.52. The company has a quick ratio of 1.13, a current ratio of 2.37 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $525.39 million, a price-to-earnings ratio of 31.09 and a beta of 1.34.

American Woodmark (NASDAQ:AMWD) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.11 by $0.34. American Woodmark had a net margin of 1.15% and a return on equity of 6.15%. The business had revenue of $324.30 million during the quarter, compared to the consensus estimate of $358.14 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year.

Institutional Investors Weigh In On American Woodmark

Several institutional investors and hedge funds have recently made changes to their positions in AMWD. AQR Capital Management LLC lifted its stake in shares of American Woodmark by 32.7% during the first quarter. AQR Capital Management LLC now owns 40,996 shares of the company’s stock worth $2,412,000 after buying an additional 10,098 shares during the period. Millennium Management LLC lifted its stake in shares of American Woodmark by 277.0% during the first quarter. Millennium Management LLC now owns 200,657 shares of the company’s stock worth $11,805,000 after buying an additional 147,427 shares during the period. Jane Street Group LLC lifted its stake in shares of American Woodmark by 132.6% during the first quarter. Jane Street Group LLC now owns 50,827 shares of the company’s stock worth $2,990,000 after buying an additional 28,975 shares during the period. Intech Investment Management LLC lifted its stake in shares of American Woodmark by 81.5% during the first quarter. Intech Investment Management LLC now owns 24,800 shares of the company’s stock worth $1,459,000 after buying an additional 11,136 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in American Woodmark by 46.4% during the second quarter. JPMorgan Chase & Co. now owns 65,967 shares of the company’s stock valued at $3,521,000 after purchasing an additional 20,913 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.