Short Interest in American Woodmark Corporation (NASDAQ:AMWD) Expands By 26.7%

American Woodmark Corporation (NASDAQ:AMWD) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,345,134 shares, a growth of 26.7% from the February 26th total of 1,061,483 shares. Based on an average trading volume of 282,449 shares, the days-to-cover ratio is presently 4.8 days. Approximately 9.4% of the shares of the company are short sold.

American Woodmark Stock Performance

Shares of NASDAQ AMWD opened at $39.83 on Wednesday. The company’s fifty day moving average price is $51.71 and its 200 day moving average price is $56.87. American Woodmark has a 1 year low of $35.51 and a 1 year high of $72.15. The company has a market capitalization of $580.32 million, a PE ratio of 34.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 2.37.

American Woodmark (NASDAQ:AMWD) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.34. American Woodmark had a net margin of 1.15% and a return on equity of 6.15%. The company had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $358.14 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis.

Analyst Ratings Changes

A number of research firms recently issued reports on AMWD. Robert W. Baird decreased their target price on shares of American Woodmark from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Zelman & Associates upgraded American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Friday, February 27th. Finally, Weiss Ratings cut American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.33.

Institutional Trading of American Woodmark

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new position in shares of American Woodmark during the 3rd quarter valued at approximately $36,000. Advisory Services Network LLC purchased a new position in American Woodmark during the third quarter valued at $57,000. Canada Pension Plan Investment Board acquired a new stake in shares of American Woodmark in the second quarter valued at about $64,000. Osaic Holdings Inc. raised its position in shares of American Woodmark by 19.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock worth $115,000 after purchasing an additional 357 shares during the last quarter. Finally, PenderFund Capital Management Ltd. purchased a new position in American Woodmark in the 3rd quarter valued at about $120,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

About American Woodmark

American Woodmark Corporation is a leading manufacturer and distributor of kitchen cabinets and bathroom vanities in North America. The company designs, builds and ships cabinetry products for a broad range of residential customers, including new-home builders, professional remodelers and specialty dealers. Its portfolio encompasses framed and frameless cabinet lines, along with accessory products such as mouldings, panels and hardware components. American Woodmark’s products are sold under the American Woodmark and Waypoint Living Spaces brands through a diversified network of home centers, independent dealers and direct-to-builder channels.

Headquartered in Winchester, Virginia, American Woodmark was founded in 1980 and has grown through a combination of organic expansion and strategic acquisitions.