Armstrong World Industries (NYSE:AWI) Rating Lowered to Hold at StockNews.com

Armstrong World Industries (NYSE:AWI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also recently commented on AWI. UBS Group raised their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Loop Capital raised their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Performance

NYSE:AWI traded up $2.78 during mid-day trading on Tuesday, hitting $145.69. 166,528 shares of the stock were exchanged, compared to its average volume of 173,104. The firm’s 50-day simple moving average is $150.89 and its 200 day simple moving average is $135.57. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. Armstrong World Industries has a fifty-two week low of $96.69 and a fifty-two week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter in the previous year, the business posted $1.60 earnings per share. Armstrong World Industries’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Park Avenue Securities LLC raised its position in Armstrong World Industries by 21.7% in the fourth quarter. Park Avenue Securities LLC now owns 8,087 shares of the construction company’s stock valued at $1,143,000 after purchasing an additional 1,441 shares during the last quarter. Tealwood Asset Management Inc. raised its holdings in Armstrong World Industries by 0.8% in the 4th quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock valued at $1,313,000 after buying an additional 71 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in Armstrong World Industries by 107.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock worth $95,000 after buying an additional 349 shares during the period. ORG Wealth Partners LLC bought a new stake in Armstrong World Industries during the 4th quarter worth approximately $32,000. Finally, Fortitude Family Office LLC acquired a new position in Armstrong World Industries in the 4th quarter valued at approximately $33,000. 98.93% of the stock is currently owned by institutional investors.

About Armstrong World Industries

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.