NEW YORK (TheStreet) -- American Woodmark (AMWD) shares closed trading up 5.75% to $53.92 on Tuesday following the release of the kitchen cabinets and fixture manufacturer's first quarter earnings results before the opening bell today.
The Winchester, VA-based company reported first quarter earnings $11.3 million, or 68 cents per diluted share on an adjusted basis, topping analysts' expectations of 56 cents per share by 12 cents.
Revenues for the period rose 9.5% year over year to $206.9 million, but fell short of analysts' $209.71 million guidance.
New construction growth was the driver for the strong quarter as the company reported a 15% increase in revenue in the sector.
TheStreet Ratings team rates AMERICAN WOODMARK CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMERICAN WOODMARK CORP (AMWD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: AMWD Ratings Report