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

American Woodmark Co. (NASDAQ:AMWD)’s stock price gapped down before the market opened 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.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMWD shares. Robert W. Baird raised their target price on shares of American Woodmark from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wolfe Research cut American Woodmark from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 4th. Finally, Loop Capital dropped their target price 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $114.00.

Insider Buying and Selling

In other news, CEO Michael Scott Culbreth sold 3,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.10, for a total transaction of $315,350.00. Following the completion of the sale, the chief executive officer now directly owns 106,432 shares in the company, valued at $9,589,523.20. This represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James G. Davis sold 1,250 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $80.79, for a total value of $100,987.50. Following the completion of the transaction, the director now directly owns 24,573 shares in the company, valued at $1,985,252.67. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,250 shares of company stock valued at $789,898. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMWD. Intech Investment Management LLC acquired a new stake in shares of American Woodmark in the third quarter worth $749,000. Barclays PLC increased its holdings in American Woodmark by 267.9% in the 3rd quarter. Barclays PLC now owns 31,316 shares of the company’s stock valued at $2,927,000 after purchasing an additional 22,804 shares in the last quarter. Creative Planning acquired a new position in shares of American Woodmark during the third quarter worth about $312,000. Franklin Resources Inc. boosted its position in shares of American Woodmark by 249.1% in the third quarter. Franklin Resources Inc. now owns 101,746 shares of the company’s stock worth $9,572,000 after buying an additional 72,600 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of American Woodmark by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 46,463 shares of the company’s stock valued at $4,342,000 after buying an additional 11,975 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

American Woodmark Trading Down 13.0 %

The firm has a fifty day moving average of $78.06 and a 200 day moving average of $87.16. The firm has a market capitalization of $931.84 million, a PE ratio of 9.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.93.

American Woodmark Company Profile

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.