American Woodmark (NASDAQ:AMWD) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Key Points

• American Woodmark reported quarterly earnings of $1.01 per share, missing analysts' estimates by $0.40, which were set at $1.41.
• The company's stock opened at $67.02, and it has a market cap of $971.79 million with a price-to-earnings (PE) ratio of 10.34.
• Recent analyst ratings reflect a consensus of "Hold," with price targets being adjusted downwards by various firms, including a target of $68.00 from Robert W. Baird.

American Woodmark (NASDAQ:AMWD - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.13), Zacks reports. American Woodmark had a net margin of 5.11% and a return on equity of 9.43%. The company had revenue of $403.05 million during the quarter, compared to analysts' expectations of $420.64 million. During the same period last year, the firm earned $1.89 earnings per share. American Woodmark's revenue was down 12.2% on a year-over-year basis.

American Woodmark Stock Performance

Shares of American Woodmark stock traded down $0.44 on Friday, reaching $64.57. 115,101 shares of the stock were exchanged, compared to its average volume of 302,275. American Woodmark has a 1-year low of $50.00 and a 1-year high of $104.28. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average price of $57.84 and a two-hundred day moving average price of $58.89. The firm has a market capitalization of $940.72 million, a PE ratio of 11.55 and a beta of 1.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMWD. AQR Capital Management LLC grew its position in 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 grew its position in 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 grew its position in 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 grew its position in 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. grew 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 worth $3,521,000 after buying an additional 20,913 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMWD shares. Robert W. Baird upped their target price on shares of American Woodmark from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday. Loop Capital reduced their target price on shares of American Woodmark from $75.00 to $72.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Wall Street Zen cut shares of American Woodmark from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $70.00.

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.