American Woodmark (NASDAQ:AMWD) Trading 8.6% Higher – Should You Buy?

American Woodmark Corporation (NASDAQ:AMWD)’s stock price traded up 8.6% on Wednesday . The stock traded as high as $45.05 and last traded at $46.2280. 72,946 shares changed hands during trading, a decline of 67% from the average session volume of 223,521 shares. The stock had previously closed at $42.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMWD. Weiss Ratings downgraded shares of American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Robert W. Baird cut their price objective on shares of American Woodmark from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of American Woodmark to a “sell” rating in a research report on Saturday, April 11th. Finally, Zelman & Associates raised shares of American Woodmark from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a research note on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.67.

American Woodmark Trading Up 13.0%

The firm has a market capitalization of $700.67 million, a price-to-earnings ratio of 41.46 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 2.37. The company has a 50 day moving average price of $40.51 and a two-hundred day moving average price of $49.97.

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

Institutional Trading of American Woodmark

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in American Woodmark by 19.9% during the second quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock worth $115,000 after purchasing an additional 357 shares in the last quarter. Swiss National Bank lifted its position in American Woodmark by 1.4% in the fourth quarter. Swiss National Bank now owns 28,700 shares of the company’s stock valued at $1,547,000 after acquiring an additional 400 shares during the last quarter. Federated Hermes Inc. purchased a new stake in American Woodmark in the third quarter valued at $36,000. Mariner LLC boosted its stake in American Woodmark by 14.6% in the third quarter. Mariner LLC now owns 4,375 shares of the company’s stock valued at $292,000 after acquiring an additional 558 shares in the last quarter. Finally, Comerica Bank boosted its stake in American Woodmark by 7.8% in the fourth quarter. Comerica Bank now owns 10,341 shares of the company’s stock valued at $557,000 after acquiring an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.