American Woodmark (NASDAQ:AMWD) Releases Quarterly Earnings Results, Misses Estimates 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) posted its quarterly earnings data on Tuesday. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.13), Zacks reports. The firm had revenue of $403.05 million for the quarter, compared to the consensus estimate of $420.64 million. American Woodmark had a return on equity of 9.43% and a net margin of 5.11%.The firm's quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share.

American Woodmark Stock Down 0.7%

AMWD stock traded down $0.44 during trading on Friday, reaching $64.57. 115,101 shares of the stock were exchanged, compared to its average volume of 171,579. The firm's 50 day moving average is $57.84 and its 200 day moving average is $59.01. American Woodmark has a twelve month low of $50.00 and a twelve month 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 firm has a market cap of $940.78 million, a P/E ratio of 11.55 and a beta of 1.20.

Hedge Funds Weigh In On American Woodmark

Several institutional investors have recently modified their holdings of the business. Caxton Associates LLP bought a new position in shares of American Woodmark in the second quarter valued at approximately $806,000. Public Sector Pension Investment Board boosted its holdings in shares of American Woodmark by 5.9% in the second quarter. Public Sector Pension Investment Board now owns 50,557 shares of the company's stock worth $2,698,000 after acquiring an additional 2,824 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of American Woodmark by 399.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company's stock worth $120,000 after acquiring an additional 1,801 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of American Woodmark by 19.1% in the second quarter. Rafferty Asset Management LLC now owns 5,226 shares of the company's stock worth $279,000 after acquiring an additional 838 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of American Woodmark by 18.0% in the second quarter. Orion Porfolio Solutions LLC now owns 16,049 shares of the company's stock worth $857,000 after buying an additional 2,451 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMWD. Robert W. Baird raised their price target on American Woodmark from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday. Loop Capital dropped their price target on 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 American Woodmark from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, American Woodmark has a consensus rating of "Hold" and a consensus target price of $70.00.

About American Woodmark

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.