American Woodmark (NASDAQ:AMWD) Sees Strong Trading Volume - Still a Buy?

Key Points

• American Woodmark's shares experienced a significant increase in trading volume, with approximately 221,072 shares traded, showing a 44% rise from the previous session.
• Recent analyst reports have led to varied price target adjustments, with Loop Capital lowering their target from $75.00 to $72.00 while Wall Street Zen downgraded the stock from "hold" to "sell."
• Despite beating earnings per share estimates with $1.61, the company's quarterly revenue of $400.39 million fell short of expectations and represents an 11.7% year-over-year decline.

Shares of American Woodmark Corporation (NASDAQ:AMWD - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 221,072 shares were traded during mid-day trading, an increase of 44% from the previous session's volume of 153,075 shares.The stock last traded at $62.02 and had previously closed at $54.32.

Analysts Set New Price Targets

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

American Woodmark Price Performance

The stock has a market capitalization of $910.25 million, a PE ratio of 9.69 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.99 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $54.31 and a 200 day moving average of $60.73.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMWD. SummerHaven Investment Management LLC boosted its holdings in American Woodmark by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,962 shares of the company's stock worth $586,000 after acquiring an additional 185 shares during the period. PNC Financial Services Group Inc. lifted its holdings in American Woodmark by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company's stock worth $234,000 after acquiring an additional 193 shares during the last quarter. GAMMA Investing LLC increased its position in American Woodmark by 32.9% in the first quarter. GAMMA Investing LLC now owns 795 shares of the company's stock worth $47,000 after buying an additional 197 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in American Woodmark by 1.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 15,420 shares of the company's stock worth $1,227,000 after buying an additional 200 shares in the last quarter. Finally, Quarry LP raised its stake in shares of American Woodmark by 215.8% during the fourth quarter. Quarry LP now owns 379 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.