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American Woodmark (AMWD) Stock Jumps 9.2%: Will It Continue to Soar?
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American Woodmark (AMWD - Free Report) shares rallied 9.2% in the last trading session to close at $50.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3% gain over the past four weeks.
American Woodmark as well as other housing market-related stocks rallied as a slowdown in the pace of inflation raised hopes that the Federal Reserve may start reverse the pace of its interest-rate hikes.
This cabinet maker is expected to post quarterly earnings of $1.73 per share in its upcoming report, which represents a year-over-year change of +179%. Revenues are expected to be $542 million, up 19.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For American Woodmark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMWD going forward to see if this recent jump can turn into more strength down the road.
American Woodmark is a member of the Zacks Furniture industry. One other stock in the same industry, La-Z-Boy (LZB - Free Report) , finished the last trading session 7.4% higher at $25.82. LZB has returned 5.9% over the past month.
La-Z-Boy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.86. Compared to the company's year-ago EPS, this represents a change of +1.2%. La-Z-Boy currently boasts a Zacks Rank of #3 (Hold).
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American Woodmark (AMWD) Stock Jumps 9.2%: Will It Continue to Soar?
American Woodmark (AMWD - Free Report) shares rallied 9.2% in the last trading session to close at $50.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3% gain over the past four weeks.
American Woodmark as well as other housing market-related stocks rallied as a slowdown in the pace of inflation raised hopes that the Federal Reserve may start reverse the pace of its interest-rate hikes.
This cabinet maker is expected to post quarterly earnings of $1.73 per share in its upcoming report, which represents a year-over-year change of +179%. Revenues are expected to be $542 million, up 19.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For American Woodmark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMWD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
American Woodmark is a member of the Zacks Furniture industry. One other stock in the same industry, La-Z-Boy (LZB - Free Report) , finished the last trading session 7.4% higher at $25.82. LZB has returned 5.9% over the past month.
La-Z-Boy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.86. Compared to the company's year-ago EPS, this represents a change of +1.2%. La-Z-Boy currently boasts a Zacks Rank of #3 (Hold).