Armstrong World Industries’ (AWI) Hold Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada restated their hold rating on shares of Armstrong World Industries Inc (NYSE:AWI) in a report released on Wednesday morning. They currently have a $55.00 price objective on the construction company’s stock.
Several other analysts also recently commented on the stock. Deutsche Bank AG upped their price target on shares of Armstrong World Industries from $52.00 to $53.00 and gave the company a buy rating in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Armstrong World Industries from a sell rating to a hold rating in a research report on Friday, August 4th. KeyCorp reiterated a hold rating on shares of Armstrong World Industries in a research report on Friday, September 22nd. TheStreet upgraded shares of Armstrong World Industries from a c+ rating to a b rating in a research report on Monday, July 31st. Finally, Citigroup Inc. upped their price target on shares of Armstrong World Industries from $52.00 to $58.00 and gave the company a neutral rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $50.33.
Shares of Armstrong World Industries (NYSE:AWI) opened at $50.40 on Wednesday. The firm has a market cap of $2,665.61, a P/E ratio of 19.46, a PEG ratio of 1.50 and a beta of 1.73. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 2.25. Armstrong World Industries has a 12-month low of $38.45 and a 12-month high of $54.45.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $357.29 million. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. research analysts expect that Armstrong World Industries will post 2.84 earnings per share for the current fiscal year.
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Armstrong World Industries declared that its Board of Directors has initiated a stock repurchase plan on Monday, October 30th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in AWI. BlackRock Inc. increased its stake in Armstrong World Industries by 10,381.5% in the 1st quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after buying an additional 1,904,378 shares during the period. River Road Asset Management LLC acquired a new position in Armstrong World Industries in the 2nd quarter valued at $39,704,000. Timucuan Asset Management Inc. FL acquired a new position in Armstrong World Industries in the 2nd quarter valued at $19,748,000. Iridian Asset Management LLC CT increased its stake in Armstrong World Industries by 7.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 4,750,675 shares of the construction company’s stock valued at $218,531,000 after buying an additional 336,960 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Armstrong World Industries in the 2nd quarter valued at $9,668,000.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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