American Woodmark (NASDAQ:AMWD) Shares Gap Up - Here's Why

Key Points

• American Woodmark's stock price gapped up from $65.37 to $69.74, closing at $68.50 with a trading volume of 39,023 shares.
• Analysts are mixed on the stock, with one brokerage raising its price target from $64.00 to $68.00, while the consensus rating stands at "Hold" with a target price of $70.00.
• The company reported a quarterly EPS of $1.01, missing estimates and showing a revenue decline of 12.2% year-over-year.

American Woodmark Corporation (NASDAQ:AMWD - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $65.37, but opened at $69.74. American Woodmark shares last traded at $68.50, with a volume of 39,023 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMWD. Robert W. Baird increased 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, August 28th. Loop Capital decreased their price target 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. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, American Woodmark presently has a consensus rating of "Hold" and a consensus target price of $70.00.

American Woodmark Trading Up 5.3%

The stock has a market capitalization of $1.00 billion, a P/E ratio of 12.34 and a beta of 1.21. The company has a current ratio of 2.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $62.43 and a 200 day moving average price of $58.75.

American Woodmark (NASDAQ:AMWD - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.13). The company had revenue of $403.05 million during 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 company's revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its position in American Woodmark by 36.6% during the 2nd quarter. Pzena Investment Management LLC now owns 1,148,331 shares of the company's stock valued at $61,286,000 after buying an additional 307,657 shares in the last quarter. Cooke & Bieler LP increased its position in American Woodmark by 0.6% during the 2nd quarter. Cooke & Bieler LP now owns 897,628 shares of the company's stock valued at $47,906,000 after buying an additional 5,427 shares in the last quarter. Systematic Financial Management LP grew its stake in American Woodmark by 7.3% during the 2nd quarter. Systematic Financial Management LP now owns 391,562 shares of the company's stock valued at $20,898,000 after purchasing an additional 26,633 shares during the last quarter. Franklin Resources Inc. grew its stake in American Woodmark by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 367,053 shares of the company's stock valued at $19,590,000 after purchasing an additional 1,955 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in American Woodmark by 18.5% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 356,900 shares of the company's stock valued at $20,996,000 after purchasing an additional 55,711 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

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.

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