American Woodmark (NASDAQ:AMWD) Cut to Hold at Baird R W

Baird R W cut shares of American Woodmark (NASDAQ:AMWD) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Several other brokerages also recently commented on AMWD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Woodmark in a research note on Wednesday, October 8th. Robert W. Baird reissued a “neutral” rating and issued a $60.00 price target (up previously from $57.00) on shares of American Woodmark in a report on Monday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.00.

American Woodmark Trading Up 1.6%

Shares of AMWD stock opened at $61.47 on Monday. The business has a 50-day moving average of $54.86 and a 200 day moving average of $59.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.15 and a quick ratio of 1.11. American Woodmark has a 1-year low of $47.15 and a 1-year high of $83.72. The stock has a market capitalization of $895.56 million, a PE ratio of 14.57 and a beta of 1.27.

American Woodmark (NASDAQ:AMWD) last announced its quarterly earnings results on Tuesday, November 25th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.44). American Woodmark had a return on equity of 7.13% and a net margin of 3.94%.The company had revenue of $394.64 million during the quarter, compared to analysts’ expectations of $410.62 million. During the same period last year, the firm earned $2.08 earnings per share. American Woodmark’s revenue for the quarter was down 12.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in shares of American Woodmark in the 3rd quarter worth about $36,000. Advisory Services Network LLC bought a new position in American Woodmark in the third quarter worth about $57,000. GAMMA Investing LLC lifted its holdings in American Woodmark by 35.8% in the second quarter. GAMMA Investing LLC now owns 1,080 shares of the company’s stock worth $58,000 after buying an additional 285 shares during the period. Canada Pension Plan Investment Board purchased a new stake in American Woodmark in the second quarter worth about $64,000. Finally, CWM LLC boosted its position in American Woodmark by 116.0% during the 2nd quarter. CWM LLC now owns 1,296 shares of the company’s stock valued at $69,000 after acquiring an additional 696 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.