Truist Financial Raises Armstrong World Industries (NYSE:AWI) Price Target to $148.00

Armstrong World Industries (NYSE:AWI) had its price target hoisted by Truist Financial from $131.00 to $148.00 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.

Several other equities research analysts also recently issued reports on the stock. Evercore ISI increased their price objective on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an in-line rating in a research report on Wednesday, May 1st. UBS Group increased their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $135.75.

Armstrong World Industries Stock Performance

AWI stock opened at $126.41 on Wednesday. Armstrong World Industries has a 1-year low of $68.35 and a 1-year high of $134.90. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.97. The firm has a market cap of $5.52 billion, a PE ratio of 23.76, a P/E/G ratio of 1.92 and a beta of 1.14. The business’s 50-day moving average price is $117.88 and its two-hundred day moving average price is $115.61.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The business had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter in the previous year, the business posted $1.38 EPS. Armstrong World Industries’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts forecast that Armstrong World Industries will post 6.07 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a $0.28 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.89%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

Hedge Funds Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Armstrong World Industries during the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in Armstrong World Industries in the 1st quarter worth about $27,000. UMB Bank n.a. raised its position in Armstrong World Industries by 67.3% in the first quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Armstrong World Industries during the fourth quarter valued at about $49,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Armstrong World Industries during the first quarter valued at about $52,000. Institutional investors own 98.93% of the company’s stock.

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.