American Woodmark Corporation (NASDAQ:AMWD) Sees Large Growth in Short Interest

American Woodmark Corporation (NASDAQ:AMWD) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,345,134 shares, an increase of 26.7% from the February 26th total of 1,061,483 shares. Based on an average daily volume of 282,449 shares, the days-to-cover ratio is currently 4.8 days. Approximately 9.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMWD. Weiss Ratings cut American Woodmark from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Robert W. Baird cut their target price on shares of American Woodmark from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. 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 report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.33.

American Woodmark Stock Performance

NASDAQ:AMWD opened at $40.10 on Monday. American Woodmark has a 12 month low of $35.51 and a 12 month high of $72.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.37 and a quick ratio of 1.13. The firm has a market capitalization of $584.26 million, a PE ratio of 34.57 and a beta of 1.28. The business’s fifty day moving average price is $52.59 and its 200 day moving average price is $57.27.

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

Institutional Investors Weigh In On American Woodmark

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new position in American Woodmark in the third quarter valued at approximately $36,000. Advisory Services Network LLC acquired a new stake in American Woodmark during the third quarter worth approximately $57,000. Canada Pension Plan Investment Board purchased a new stake in shares of American Woodmark during the 2nd quarter worth approximately $64,000. Osaic Holdings Inc. lifted its position in shares of American Woodmark by 19.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,147 shares of the company’s stock worth $115,000 after buying an additional 357 shares during the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new position in shares of American Woodmark in the 3rd quarter valued at $120,000. 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.