American Woodmark price target lowered to $114 from $119 at Loop Capital

Loop Capital lowered the firm’s price target on American Woodmark (AMWD) to $114 from $119 and keeps a Buy rating on the shares. American Woodmark reported a slight beat in Q2 vs. the firm’s expectations but narrowed its guidance for FY25 on macro uncertainties in the back-half of its fiscal year, the analyst tells investors in a research note. Loop remains “resolute” in its recent upgrade call that was based on both the fact the shares have disproportionately underperformed its peer group this year and that trends are bottoming, saying both parts of the thesis remain unchanged, and that the only new bit of information is that a recovery could be pushed out a little longer given macro uncertainties tied to higher mortgage rates, inflation, and weaker consumer confidence.