American Woodmark (NASDAQ:AMWD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “American Woodmark Corporation is the third-largest manufacturer of kitchen and bath cabinets. Offering more than 340 cabinet lines in a wide variety of designs, materials and finishes, American Woodmark products are sold through a network of dealers and distributors and directly to home centers and major homebuilders. American Woodmark offers over 500 cabinet styles for the remodeling and new home construction markets under four major brands: American Woodmark, Shenandoah Cabinetry, Timberlake Cabinetry, and Waypoint Living Spaces. American Woodmark cabinetry is created to bring fashion, beauty and function to the heart of the home. American Woodmark people are committed to providing outstanding value and a superior customer experience. American Woodmark company is focused on long term, sustainable growth. They offer employees the opportunity for professional growth while maintaining a work-life balance. “
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut American Woodmark from a “hold” rating to a “sell” rating in a research note on Tuesday. Longbow Research upgraded American Woodmark from a “neutral” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Robert W. Baird upped their price objective on American Woodmark from $108.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. American Woodmark currently has a consensus rating of “Hold” and a consensus price target of $140.00.
American Woodmark (NASDAQ:AMWD) last announced its quarterly earnings data on Friday, March 9th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). American Woodmark had a return on equity of 17.54% and a net margin of 5.56%. The company had revenue of $292.80 million for the quarter, compared to the consensus estimate of $276.60 million. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. research analysts forecast that American Woodmark will post 5.16 EPS for the current year.
In related news, insider Steven Cary Dunston sold 500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $129.65, for a total value of $64,825.00. Following the sale, the insider now owns 47,109 shares in the company, valued at approximately $6,107,681.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder William F. Brandt sold 12,000 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $128.46, for a total value of $1,541,520.00. Following the completion of the sale, the insider now owns 1,764,245 shares in the company, valued at approximately $226,634,912.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,000 shares of company stock worth $6,153,810. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AMWD. Royal Bank of Canada raised its stake in American Woodmark by 274.8% in the 2nd quarter. Royal Bank of Canada now owns 3,564 shares of the company’s stock valued at $340,000 after acquiring an additional 2,613 shares during the period. Crossmark Global Holdings Inc. bought a new stake in American Woodmark in the 3rd quarter valued at $337,000. Principal Financial Group Inc. increased its position in American Woodmark by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 111,088 shares of the company’s stock worth $10,692,000 after buying an additional 1,162 shares during the period. BNP Paribas Arbitrage SA increased its position in American Woodmark by 76.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the company’s stock worth $703,000 after buying an additional 3,174 shares during the period. Finally, Sei Investments Co. increased its position in American Woodmark by 14.9% during the 3rd quarter. Sei Investments Co. now owns 67,113 shares of the company’s stock worth $6,460,000 after buying an additional 8,710 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.
About American Woodmark
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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