American Woodmark (NASDAQ:AMWD) Sees Strong Trading Volume - Here's Why

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.

American Woodmark Corporation (NASDAQ:AMWD - Get Free Report) saw strong trading volume on Wednesday . 221,072 shares changed hands during 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.

Analyst Upgrades and Downgrades

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

American Woodmark Stock Up 0.3%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.02 and a current ratio of 1.99. The company's 50-day moving average price is $54.55 and its 200 day moving average price is $60.15. The stock has a market capitalization of $877.83 million, a P/E ratio of 9.34 and a beta of 1.20.

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

Institutional Trading of American Woodmark

Several hedge funds have recently made changes to their positions in AMWD. Pzena Investment Management LLC increased its stake in American Woodmark by 71.7% during the first quarter. Pzena Investment Management LLC now owns 840,674 shares of the company's stock worth $49,457,000 after acquiring an additional 351,157 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new stake in American Woodmark in the fourth quarter worth $23,954,000. Millennium Management LLC boosted its stake 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. Atlas FRM LLC bought a new position in American Woodmark during the fourth quarter valued at $9,066,000. Finally, WCM Investment Management LLC increased its position in American Woodmark by 41.8% during the second quarter. WCM Investment Management LLC now owns 236,802 shares of the company's stock valued at $12,595,000 after acquiring an additional 69,779 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.