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

Armstrong World Industries (NYSE:AWI) had its target price upped by equities researchers at Jefferies Financial Group from $121.00 to $122.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target indicates a potential downside of 9.92% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Truist Financial increased their price target on Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI boosted their price target on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Finally, UBS Group raised their price objective on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Armstrong World Industries Price Performance

AWI traded up $1.35 on Wednesday, hitting $135.43. 214,518 shares of the company’s stock were exchanged, compared to its average volume of 315,905. The firm has a 50-day moving average price of $126.18 and a 200-day moving average price of $120.51. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.88 and a beta of 1.14. 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 has a fifty-two week low of $68.35 and a fifty-two week high of $136.35.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock worth $58,000 after acquiring an additional 153 shares during the last quarter. CWM LLC raised its position in Armstrong World Industries by 64.3% in the third quarter. CWM LLC now owns 1,058 shares of the construction company’s stock valued at $139,000 after purchasing an additional 414 shares during the period. Salvus Wealth Management LLC raised its position in Armstrong World Industries by 0.8% in the third quarter. Salvus Wealth Management LLC now owns 18,251 shares of the construction company’s stock valued at $2,399,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC lifted its stake in Armstrong World Industries by 71.9% during the third quarter. GAMMA Investing LLC now owns 1,523 shares of the construction company’s stock worth $200,000 after purchasing an additional 637 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Armstrong World Industries by 20.7% during the third quarter. Handelsbanken Fonder AB now owns 12,830 shares of the construction company’s stock worth $1,686,000 after buying an additional 2,200 shares during the period. 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.