Armstrong World Industries (NYSE:AWI) Upgraded to Buy by StockNews.com

Armstrong World Industries (NYSE:AWI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities analysts have also issued reports on AWI. UBS Group raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating and boosted their price target for the company from $75.00 to $103.00 in a report on Thursday, January 4th. Truist Financial upped their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group upped their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and a consensus target price of $98.29.

Armstrong World Industries Trading Down 0.2 %

Shares of AWI stock traded down $0.25 on Thursday, hitting $124.22. The stock had a trading volume of 355,312 shares, compared to its average volume of 368,595. Armstrong World Industries has a twelve month low of $62.03 and a twelve month high of $125.56. The firm has a market cap of $5.44 billion, a P/E ratio of 24.84, a PEG ratio of 1.89 and a beta of 1.12. The company has a current ratio of 1.61, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $113.17 and a two-hundred day moving average price of $93.82.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Armstrong World Industries had a net margin of 17.28% and a return on equity of 41.56%. The company had revenue of $312.30 million during the quarter, compared to analyst estimates of $305.44 million. During the same quarter in the previous year, the business earned $1.08 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts forecast that Armstrong World Industries will post 5.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Armstrong World Industries by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after purchasing an additional 517,699 shares during the period. American International Group Inc. raised its holdings in shares of Armstrong World Industries by 415.4% in the 4th quarter. American International Group Inc. now owns 2,546 shares of the construction company’s stock valued at $250,000 after purchasing an additional 2,052 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Armstrong World Industries in the 4th quarter valued at about $483,000. Price T Rowe Associates Inc. MD grew its stake in Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after buying an additional 569,824 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Armstrong World Industries by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,100 shares of the construction company’s stock valued at $1,878,000 after buying an additional 108 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.