American Woodmark (AMWD) Sees Large Volume Increase Following Analyst Upgrade

Shares of American Woodmark Co. (NASDAQ:AMWD) saw unusually-strong trading volume on Monday after Robert W. Baird raised their price target on the stock from $108.00 to $142.00. Robert W. Baird currently has an outperform rating on the stock. Approximately 220,746 shares traded hands during mid-day trading, an increase of 100% from the previous session’s volume of 110,246 shares.The stock last traded at $124.20 and had previously closed at $127.70.

AMWD has been the topic of several other research reports. Zacks Investment Research raised American Woodmark from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Friday, August 25th. BidaskClub raised American Woodmark from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd.

In other news, major shareholder William F. Brandt sold 18,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $117.75, for a total transaction of $2,119,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William F. Brandt sold 2,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $89.80, for a total value of $179,600.00. Following the transaction, the insider now directly owns 1,874,973 shares in the company, valued at approximately $168,372,575.40. The disclosure for this sale can be found here. Insiders have sold a total of 94,168 shares of company stock worth $9,263,644 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Riverhead Capital Management LLC grew its position in shares of American Woodmark by 99.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,199 shares of the company’s stock worth $114,000 after buying an additional 599 shares in the last quarter. Flinton Capital Management LLC lifted its stake in shares of American Woodmark by 78.3% during the 2nd quarter. Flinton Capital Management LLC now owns 1,394 shares of the company’s stock worth $133,000 after purchasing an additional 612 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of American Woodmark during the 2nd quarter worth $172,000. Pinebridge Investments L.P. lifted its stake in shares of American Woodmark by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,840 shares of the company’s stock worth $176,000 after purchasing an additional 18 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of American Woodmark during the 3rd quarter worth $236,000. 80.48% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 2.95, a current ratio of 3.41 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2,075.11, a P/E ratio of 28.50 and a beta of 1.57.

American Woodmark (NASDAQ:AMWD) last issued its quarterly earnings data on Friday, December 1st. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). The company had revenue of $274.80 million for the quarter, compared to analysts’ expectations of $280.60 million. American Woodmark had a return on equity of 20.56% and a net margin of 6.98%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. equities research analysts anticipate that American Woodmark Co. will post 4.92 earnings per share for the current fiscal year.

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About American Woodmark

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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