American Woodmark (NASDAQ:AMWD) Shares Gap Down After Earnings Miss

American Woodmark Co. (NASDAQ:AMWD) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $71.15, but opened at $64.08. American Woodmark shares last traded at $63.82, with a volume of 23,947 shares traded.

The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.27). American Woodmark had a return on equity of 12.70% and a net margin of 5.90%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMWD. Wolfe Research downgraded shares of American Woodmark from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their target price on American Woodmark from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Loop Capital cut their price target on American Woodmark from $119.00 to $114.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Woodmark currently has a consensus rating of “Hold” and an average target price of $114.00.

Insiders Place Their Bets

In other American Woodmark news, Director James G. Davis sold 1,679 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $84.33, for a total value of $141,590.07. Following the completion of the transaction, the director now directly owns 28,644 shares of the company’s stock, valued at approximately $2,415,548.52. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Scott Culbreth sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.10, for a total value of $315,350.00. Following the sale, the chief executive officer now directly owns 106,432 shares in the company, valued at $9,589,523.20. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,250 shares of company stock worth $789,898. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On American Woodmark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP increased its position in shares of American Woodmark by 215.8% in the fourth quarter. Quarry LP now owns 379 shares of the company’s stock valued at $30,000 after buying an additional 259 shares in the last quarter. Sterling Capital Management LLC increased its holdings in American Woodmark by 842.0% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the company’s stock valued at $37,000 after acquiring an additional 421 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in American Woodmark during the 4th quarter valued at about $43,000. GAMMA Investing LLC raised its position in American Woodmark by 170.6% during the fourth quarter. GAMMA Investing LLC now owns 598 shares of the company’s stock worth $48,000 after acquiring an additional 377 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of American Woodmark by 69.6% in the fourth quarter. KBC Group NV now owns 858 shares of the company’s stock valued at $68,000 after purchasing an additional 352 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

American Woodmark Stock Down 13.0 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.93 and a quick ratio of 1.05. The firm’s 50-day moving average price is $78.06 and its 200 day moving average price is $87.16. The firm has a market capitalization of $931.84 million, a price-to-earnings ratio of 9.25 and a beta of 1.61.

About American Woodmark

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.