American Woodmark price target lowered to $98 from $100 at Loop Capital

Loop Capital lowered the firm’s price target on American Woodmark to $98 from $100 and keeps a Hold rating on the shares. The company reported an in line Q1 with sales coming in modestly below expectations, and the firm continues to see slower R&R – repair and remodeling – trends bogging down volumes, the analyst tells investors in a research note. American Woodmark management also spoke to a recent decline in new construction as impacting the next several quarters, though the company remains well positioned to recover once lower interest rates translate to demand improvement in both new construction and remodeling, the firm added.