Zacks Investment Research Downgrades American Woodmark Corporation (NASDAQ:AMWD) to Hold

Zacks Investment Research cut shares of American Woodmark Corporation (NASDAQ:AMWD) from a buy rating to a hold rating in a research note issued to investors on Monday, September 11th.

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. “

Several other research firms have also commented on AMWD. BidaskClub lowered shares of American Woodmark Corporation from a hold rating to a sell rating in a report on Saturday, August 12th. Zelman & Associates lowered shares of American Woodmark Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th.

American Woodmark Corporation (NASDAQ AMWD) opened at 89.15 on Monday. The company has a 50-day moving average of $89.52 and a 200 day moving average of $91.51. American Woodmark Corporation has a one year low of $69.65 and a one year high of $107.30. The company has a market cap of $1.45 billion, a P/E ratio of 20.35 and a beta of 1.41.

American Woodmark Corporation (NASDAQ:AMWD) last released its earnings results on Tuesday, August 22nd. The company reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.14). American Woodmark Corporation had a return on equity of 20.89% and a net margin of 6.85%. The company had revenue of $276.83 million during the quarter, compared to analyst estimates of $278.80 million. During the same period in the prior year, the business posted $1.32 earnings per share. American Woodmark Corporation’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that American Woodmark Corporation will post $4.94 earnings per share for the current year.

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In other American Woodmark Corporation news, major shareholder William F. Brandt sold 2,000 shares of American Woodmark Corporation stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $97.00, for a total value of $194,000.00. Following the completion of the transaction, the insider now owns 1,883,973 shares of the company’s stock, valued at $182,745,381. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel T. Hendrix sold 3,000 shares of American Woodmark Corporation stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $80.63, for a total transaction of $241,890.00. Following the completion of the transaction, the director now directly owns 7,155 shares of the company’s stock, valued at approximately $576,907.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,200 shares of company stock valued at $1,951,100. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMWD. Ameritas Investment Partners Inc. acquired a new position in shares of American Woodmark Corporation during the first quarter valued at $110,000. Riverhead Capital Management LLC boosted its holdings in shares of American Woodmark Corporation by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 1,199 shares of the company’s stock valued at $114,000 after acquiring an additional 599 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of American Woodmark Corporation by 78.3% during the second quarter. Flinton Capital Management LLC now owns 1,394 shares of the company’s stock valued at $133,000 after acquiring an additional 612 shares during the period. Dubuque Bank & Trust Co. boosted its holdings in shares of American Woodmark Corporation by 8.7% during the second quarter. Dubuque Bank & Trust Co. now owns 1,654 shares of the company’s stock valued at $158,000 after acquiring an additional 132 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of American Woodmark Corporation during the second quarter valued at $172,000. 80.30% of the stock is owned by 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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