Zacks Investment Research Downgrades American Woodmark Corporation (AMWD) to Sell
American Woodmark Corporation (NASDAQ:AMWD) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “AMERICAN WOODMARK CORP. manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Co. currently offers framed stock cabinets in almost 100 different cabinet lines, ranging in price from relatively inexpensive to medium priced styles. Styles vary by design and color from natural wood finishes to low- pressure laminate surfaces. The entire product offering includes thirty-three door designs and five colors. “
A number of other brokerages have also commented on AMWD. Zelman & Associates lowered American Woodmark Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub lowered American Woodmark Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
American Woodmark Corporation (AMWD) traded up 0.20% on Tuesday, hitting $99.30. The company had a trading volume of 65,742 shares. The stock’s 50-day moving average price is $93.11 and its 200 day moving average price is $92.81. The company has a market capitalization of $1.61 billion, a P/E ratio of 22.67 and a beta of 1.44. American Woodmark Corporation has a one year low of $69.65 and a one year high of $107.30.
American Woodmark Corporation (NASDAQ:AMWD) last issued its earnings results on Tuesday, August 22nd. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.14). American Woodmark Corporation had a net margin of 6.85% and a return on equity of 20.89%. The firm had revenue of $276.83 million during the quarter, compared to the consensus estimate of $278.80 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that American Woodmark Corporation will post $4.93 EPS for the current fiscal year.
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In other news, major shareholder William F. Brandt sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $97.70, for a total value of $293,100.00. Following the transaction, the insider now owns 1,880,973 shares of the company’s stock, valued at $183,771,062.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven Cary Dunston sold 500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $80.55, for a total transaction of $40,275.00. Following the completion of the transaction, the insider now directly owns 49,109 shares in the company, valued at approximately $3,955,729.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,157 shares of company stock valued at $5,226,615. 1.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of American Woodmark Corporation in the third quarter worth $877,000. Tributary Capital Management LLC increased its stake in American Woodmark Corporation by 45.5% in the third quarter. Tributary Capital Management LLC now owns 160,859 shares of the company’s stock valued at $15,483,000 after acquiring an additional 50,301 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in American Woodmark Corporation by 109.5% in the second quarter. Lord Abbett & CO. LLC now owns 32,525 shares of the company’s stock valued at $3,108,000 after acquiring an additional 17,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in American Woodmark Corporation by 1.3% in the second quarter. Public Employees Retirement System of Ohio now owns 12,280 shares of the company’s stock valued at $1,173,000 after acquiring an additional 155 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in American Woodmark Corporation in the second quarter valued at $288,000. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
About American Woodmark Corporation
American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. The Company offers framed stock cabinets in approximately 500 different cabinet lines, ranging in price from relatively inexpensive to medium-priced styles. Styles vary by design and color from natural wood finishes to low-pressure laminate surfaces.
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