Armstrong World Industries Inc. (NYSE:AWI) Receives Consensus Recommendation of “Hold” from Analysts
Armstrong World Industries Inc. (NYSE:AWI) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $46.80.
A number of equities research analysts have weighed in on the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $47.00 price objective (up from $45.00) on shares of Armstrong World Industries in a report on Monday, August 1st. KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a report on Friday, August 5th. Zacks Investment Research raised Armstrong World Industries from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday, July 20th. Royal Bank Of Canada lifted their price objective on Armstrong World Industries from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, August 1st. Finally, Goldman Sachs Group Inc. cut shares of Armstrong World Industries from a “neutral” rating to a “sell” rating and cut their target price for the company from $38.00 to $34.00 in a research note on Monday, July 11th.
Shares of Armstrong World Industries (NYSE:AWI) opened at 41.03 on Thursday. The stock’s 50 day moving average price is $43.42 and its 200 day moving average price is $41.81. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 91.38 and a beta of 1.53. Armstrong World Industries has a 1-year low of $35.92 and a 1-year high of $52.99.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Friday, July 29th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $314.30 million for the quarter, compared to the consensus estimate of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The company’s quarterly revenue was down 50.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. Analysts expect that Armstrong World Industries will post $2.30 EPS for the current year.
In other Armstrong World Industries news, VP Stephen F. Mcnamara sold 2,274 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.00, for a total transaction of $102,330.00. Following the completion of the sale, the vice president now owns 5,242 shares in the company, valued at approximately $235,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new stake in shares of Armstrong World Industries during the first quarter valued at approximately $187,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Armstrong World Industries during the second quarter valued at approximately $223,000. Teacher Retirement System of Texas boosted its stake in shares of Armstrong World Industries by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 5,830 shares of the company’s stock valued at $228,000 after buying an additional 1,074 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Armstrong World Industries by 21.9% in the second quarter. Amalgamated Bank now owns 5,610 shares of the company’s stock valued at $250,000 after buying an additional 1,006 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Armstrong World Industries during the first quarter valued at approximately $260,000. Institutional investors own 99.90% of the company’s stock.
About Armstrong World Industries
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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