American Woodmark Corp. Trading Up 15.4% on Better-Than-Expected Earnings (AMWD)
American Woodmark Corp. (NASDAQ:AMWD) shares were up 15.4% on Tuesday following a better than expected earnings announcement, American Banking News reports. The company traded as high as $37.29 and last traded at $36.17, with a volume of 396,188 shares traded. The stock had previously closed at $31.33.
The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $211.90 million for the quarter, compared to the consensus estimate of $196.92 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis.
Separately, analysts at Zacks upgraded shares of American Woodmark Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $30.90 price target on the stock.
In other American Woodmark Corp. news, Director William F. Brandt sold 1,000 shares of American Woodmark Corp. stock on the open market in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $31.31, for a total transaction of $31,310.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The stock’s 50-day moving average is $31.05 and its 200-day moving average is $31.40. The company has a market cap of $562.5 million and a price-to-earnings ratio of 23.92.
American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets.
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