Jefferies Financial Group Boosts Armstrong World Industries (NYSE:AWI) Price Target to $122.00

Armstrong World Industries (NYSE:AWI) had its price target boosted by Jefferies Financial Group from $121.00 to $122.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the construction company’s stock.

Several other analysts also recently commented on AWI. UBS Group upped their price objective on Armstrong World Industries from $122.00 to $136.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Truist Financial upped their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a buy rating in a research note 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, Evercore ISI upped 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 research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $133.00.

Armstrong World Industries Stock Performance

Shares of AWI opened at $136.26 on Wednesday. The company’s 50 day simple moving average is $126.54 and its 200-day simple moving average is $120.77. The firm has a market cap of $5.96 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 12-month low of $68.35 and a 12-month high of $136.60. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The company had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. During the same period last year, the firm 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, equities analysts predict that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.82%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s payout ratio is 21.05%.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently made changes to their positions in AWI. Price T Rowe Associates Inc. MD grew its position in Armstrong World Industries by 56.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after buying an additional 569,824 shares during the period. Vanguard Group Inc. increased its stake in 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 in the last quarter. Los Angeles Capital Management LLC acquired a new position in Armstrong World Industries during the first quarter worth $39,183,000. GAMMA Investing LLC raised its holdings in Armstrong World Industries by 25.3% during the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after purchasing an additional 125 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in Armstrong World Industries by 7.5% during the first quarter. Park Avenue Securities LLC now owns 6,530 shares of the construction company’s stock worth $811,000 after purchasing an additional 457 shares in the last quarter. 98.93% of the stock is 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.