Armstrong World Industries (NYSE:AWI) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Armstrong World Industries (NYSE:AWI) from a hold rating to a buy rating in a research note published on Wednesday morning.

Other equities research analysts also recently issued reports about the company. Evercore ISI boosted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. 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. Finally, Truist Financial lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Price Performance

AWI opened at $150.27 on Wednesday. The stock has a 50-day moving average price of $150.20 and a 200-day moving average price of $137.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. The firm has a market cap of $6.55 billion, a PE ratio of 26.50, a P/E/G ratio of 1.75 and a beta of 1.18. Armstrong World Industries has a 1 year low of $97.47 and a 1 year high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same period last year, the company earned $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Armstrong World Industries

Several institutional investors have recently added to or reduced their stakes in AWI. State Street Corp lifted its holdings in shares of Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after purchasing an additional 51,839 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after purchasing an additional 67,798 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Armstrong World Industries by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock worth $62,074,000 after purchasing an additional 18,333 shares during the period. Finally, Harvey Partners LLC lifted its holdings in shares of Armstrong World Industries by 0.4% during the third quarter. Harvey Partners LLC now owns 230,500 shares of the construction company’s stock worth $30,295,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds 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.