American Woodmark Corporation (AMWD) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of American Woodmark Corporation (NASDAQ:AMWD) from a buy rating to a hold rating in a research report sent to investors on Monday.

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. “

A number of other analysts have also weighed in on the stock. Zelman & Associates lowered shares of American Woodmark Corporation from a buy rating to a hold rating in a report on Wednesday, July 19th. BidaskClub cut shares of American Woodmark Corporation from a buy rating to a hold rating in a research note on Friday, July 28th.

American Woodmark Corporation (NASDAQ:AMWD) traded up 0.06% during midday trading on Monday, reaching $89.35. The company’s stock had a trading volume of 2,976 shares. The firm has a 50-day moving average price of $91.07 and a 200 day moving average price of $91.36. American Woodmark Corporation has a 52-week low of $69.65 and a 52-week high of $107.30. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 20.40 and a beta of 1.41.

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

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In other American Woodmark Corporation news, CFO Michael Scott Culbreth sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $95.20, for a total value of $380,800.00. Following the transaction, the chief financial officer now directly owns 11,688 shares of the company’s stock, valued at $1,112,697.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder William F. Brandt sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $83.50, for a total transaction of $83,500.00. Following the completion of the transaction, the insider now directly owns 1,875,973 shares in the company, valued at $156,643,745.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,726 shares of company stock worth $3,276,659. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AMWD. BlackRock Inc. boosted its position in shares of American Woodmark Corporation by 148,318.8% during the first quarter. BlackRock Inc. now owns 1,806,257 shares of the company’s stock worth $165,816,000 after purchasing an additional 1,805,040 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of American Woodmark Corporation during the first quarter worth $9,061,000. Mesirow Financial Investment Management Equity Management boosted its position in shares of American Woodmark Corporation by 39.5% during the second quarter. Mesirow Financial Investment Management Equity Management now owns 215,810 shares of the company’s stock worth $20,621,000 after purchasing an additional 61,160 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of American Woodmark Corporation by 41.5% during the second quarter. Prudential Financial Inc. now owns 153,888 shares of the company’s stock worth $14,704,000 after purchasing an additional 45,124 shares in the last quarter. Finally, Broad Run Investment Management LLC boosted its position in shares of American Woodmark Corporation by 3.2% during the first quarter. Broad Run Investment Management LLC now owns 1,400,486 shares of the company’s stock worth $128,565,000 after purchasing an additional 43,018 shares in the last quarter. 80.36% of the stock is currently 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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