Armstrong World Industries (NYSE:AWI) Price Target Raised to $162.00

Armstrong World Industries (NYSE:AWI) had its price target upped by Truist Financial from $148.00 to $162.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group raised their target price on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, UBS Group lifted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Trading Up 0.7 %

Shares of Armstrong World Industries stock opened at $140.59 on Wednesday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. Armstrong World Industries has a 52-week low of $77.73 and a 52-week high of $143.07. The company’s 50-day simple moving average is $131.91 and its 200-day simple moving average is $122.69. The company has a quick ratio of 1.19, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. As a group, equities research analysts anticipate that Armstrong World Industries will post 6.19 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is presently 19.75%.

Institutional Trading of Armstrong World Industries

Large investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. acquired a new stake in Armstrong World Industries during the 1st quarter valued at $2,081,000. Assenagon Asset Management S.A. boosted its stake in shares of Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock valued at $7,283,000 after acquiring an additional 33,290 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Armstrong World Industries during the 1st quarter worth about $3,097,000. Duality Advisers LP acquired a new position in Armstrong World Industries in the 1st quarter valued at about $1,150,000. Finally, Sei Investments Co. lifted its holdings in Armstrong World Industries by 185.3% in the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after purchasing an additional 33,927 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.