American Woodmark (NASDAQ:AMWD) Sees Large Volume Increase - Here's Why

American Woodmark Corporation (NASDAQ:AMWD - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 251,142 shares traded hands during mid-day trading, an increase of 59% from the previous session's volume of 158,418 shares.The stock last traded at $52.85 and had previously closed at $50.88.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen downgraded American Woodmark from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Robert W. Baird reduced their target price on shares of American Woodmark from $75.00 to $68.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Loop Capital decreased their price target on shares of American Woodmark from $75.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, Zelman & Associates reaffirmed an "underperform" rating on shares of American Woodmark in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, American Woodmark currently has an average rating of "Hold" and an average price target of $83.33.

American Woodmark Trading Up 0.3%

The company has a market capitalization of $774.03 million, a PE ratio of 8.24 and a beta of 1.25. The company has a fifty day simple moving average of $56.34 and a 200-day simple moving average of $65.35. The company has a current ratio of 1.99, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40.

American Woodmark (NASDAQ:AMWD - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.16. The firm had revenue of $400.39 million during the quarter, compared to analysts' expectations of $427.39 million. American Woodmark had a net margin of 5.82% and a return on equity of 11.09%. American Woodmark's revenue was down 11.7% compared to the same quarter last year. During the same period last year, the business earned $1.70 earnings per share.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. First Hawaiian Bank raised its position in American Woodmark by 77.0% in the first quarter. First Hawaiian Bank now owns 10,566 shares of the company's stock valued at $622,000 after purchasing an additional 4,595 shares during the period. Intech Investment Management LLC raised its holdings in American Woodmark by 81.5% in the 1st quarter. Intech Investment Management LLC now owns 24,800 shares of the company's stock valued at $1,459,000 after buying an additional 11,136 shares during the period. Jane Street Group LLC lifted its position in American Woodmark by 132.6% in the first quarter. Jane Street Group LLC now owns 50,827 shares of the company's stock valued at $2,990,000 after buying an additional 28,975 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of American Woodmark by 2.0% in the 1st quarter. Empowered Funds LLC now owns 90,895 shares of the company's stock worth $5,347,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in American Woodmark by 277.0% in the 1st quarter. Millennium Management LLC now owns 200,657 shares of the company's stock valued at $11,805,000 after purchasing an additional 147,427 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.