Armstrong World Industries (NYSE:AWI) Price Target Raised to $140.00 at Evercore ISI

Armstrong World Industries (NYSE:AWI) had its target price upped by Evercore ISI from $127.00 to $140.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

Other research analysts have also recently issued reports about the company. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial boosted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 0.7 %

Shares of NYSE:AWI opened at $140.59 on Wednesday. The firm has a market capitalization of $6.13 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. Armstrong World Industries has a 1 year low of $77.73 and a 1 year high of $143.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.19. The firm’s 50-day moving average is $131.91 and its two-hundred day moving average is $122.69.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that Armstrong World Industries will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued 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 dividend payout ratio (DPR) is presently 19.75%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries in the third quarter valued at $26,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Armstrong World Industries in the 1st quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries during the 3rd quarter worth approximately $31,000. UMB Bank n.a. increased its position in Armstrong World Industries by 53.7% during the third quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after buying an additional 153 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.