Armstrong World Industries Inc (NYSE:AWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $64.00 price target on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.68% from the stock’s current price.

According to Zacks, “Armstrong World provided adjusted earnings per share guidance in the range of $2.80-$2.90 and sales guidance of $1.31-$1.34 billion for 2017. Sales will be aided by order backlog and improved construction market. The company has been selected to provide ceiling solutions for the Metropolitan Transportation Authority's East Side Access megaproject, the largest transportation construction project underway in the United States. The Tectum acquisition will expand its leading portfolio of durable, sustainable and acoustical solutions. Armstrong World has signed a definitive agreement to divest its EMEA (Europe, the Middle East and Africa) and Pacific Rim businesses as a part of its an ongoing transformation plan. Year to date, the stock has outperformed the industry.”

Several other equities analysts also recently weighed in on the company. SunTrust Banks, Inc. restated a “buy” rating and set a $62.00 price target on shares of Armstrong World Industries in a report on Wednesday, November 22nd. Royal Bank Of Canada raised their price target on Armstrong World Industries from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Wednesday, November 22nd. Nomura set a $65.00 price target on Armstrong World Industries and gave the company a “buy” rating in a report on Tuesday, November 21st. KeyCorp restated a “hold” rating on shares of Armstrong World Industries in a report on Tuesday, October 24th. Finally, Citigroup Inc. raised their price target on Armstrong World Industries from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $55.14.

Shares of Armstrong World Industries (AWI) traded up $0.70 during trading hours on Monday, hitting $56.80. The stock had a trading volume of 303,000 shares, compared to its average volume of 502,179. Armstrong World Industries has a 1 year low of $38.45 and a 1 year high of $57.25. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market capitalization of $3,004.10, a P/E ratio of 21.93, a PEG ratio of 1.73 and a beta of 1.73.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results 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). Armstrong World Industries had a net margin of 12.36% and a return on equity of 52.35%. The company had revenue of $351.90 million for the quarter, compared to the consensus estimate of $357.29 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. Armstrong World Industries’s revenue was up 5.0% compared to the same quarter last year. analysts expect that Armstrong World Industries will post 2.81 EPS for the current year.

Armstrong World Industries announced that its board has approved a stock repurchase program on Monday, October 30th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In related news, SVP Ellen R. Romano sold 33,087 shares of Armstrong World Industries stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $54.68, for a total value of $1,809,197.16. Following the completion of the sale, the senior vice president now directly owns 14,769 shares in the company, valued at approximately $807,568.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. BlackRock Inc. increased its holdings 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 worth $88,541,000 after buying an additional 1,904,378 shares in the last quarter. River Road Asset Management LLC bought a new stake in Armstrong World Industries in the 2nd quarter worth about $39,704,000. Timucuan Asset Management Inc. FL bought a new stake in Armstrong World Industries in the 2nd quarter worth about $19,748,000. Iridian Asset Management LLC CT increased its holdings 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 worth $218,531,000 after buying an additional 336,960 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Armstrong World Industries in the 2nd quarter worth about $9,668,000.

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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.

Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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