Zacks Investment Research Lowers 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 report released on Tuesday, October 24th.

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. “

AMWD has been the subject of a number of other research reports. BidaskClub raised shares of American Woodmark Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Zelman & Associates downgraded shares of American Woodmark Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th.

Shares of American Woodmark Corporation (NASDAQ AMWD) traded down $0.70 during mid-day trading on Tuesday, reaching $89.00. 86,000 shares of the company traded hands, compared to its average volume of 89,306. American Woodmark Corporation has a 12-month low of $69.65 and a 12-month high of $107.30. The firm has a market cap of $1,446.25, a P/E ratio of 20.46 and a beta of 1.55. The company has a quick ratio of 3.00, a current ratio of 3.45 and a debt-to-equity ratio of 0.04.

American Woodmark Corporation (NASDAQ:AMWD) last announced its earnings results on Tuesday, August 22nd. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $278.80 million. During the same period in the previous year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. sell-side analysts predict that American Woodmark Corporation will post 4.92 EPS for the current year.

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In other news, SVP Roger Perry Campbell sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $89.29, for a total transaction of $267,870.00. Following the completion of the sale, the senior vice president now owns 11,415 shares in the company, valued at approximately $1,019,245.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder William F. Brandt sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $96.55, for a total value of $144,825.00. Following the sale, the insider now owns 1,835,745 shares of the company’s stock, valued at approximately $177,241,179.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,157 shares of company stock valued at $4,838,665. Corporate insiders own 1.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of American Woodmark Corporation by 31.7% during the 3rd quarter. Wells Fargo & Company MN now owns 34,354 shares of the company’s stock worth $3,306,000 after purchasing an additional 8,276 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of American Woodmark Corporation by 7.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 21,412 shares of the company’s stock worth $2,019,000 after purchasing an additional 1,484 shares during the period. Nordea Investment Management AB boosted its holdings in American Woodmark Corporation by 22.1% in the 3rd quarter. Nordea Investment Management AB now owns 25,167 shares of the company’s stock worth $2,422,000 after acquiring an additional 4,554 shares during the period. American International Group Inc. boosted its holdings in American Woodmark Corporation by 6.2% in the 3rd quarter. American International Group Inc. now owns 11,195 shares of the company’s stock worth $1,078,000 after acquiring an additional 650 shares during the period. Finally, Yorktown Management & Research Co Inc purchased a new position in American Woodmark Corporation in the 3rd quarter worth approximately $308,000. Institutional investors and hedge funds own 79.34% of the company’s stock.

American Woodmark Corporation Company Profile

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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