Loop Capital Forecasts Strong Price Appreciation for Armstrong World Industries (NYSE:AWI) Stock

Armstrong World Industries (NYSE:AWI) had its price target hoisted by equities researchers at Loop Capital from $135.00 to $145.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Loop Capital’s price target suggests a potential upside of 3.91% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Evercore ISI lifted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday. Truist Financial lifted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Down 0.6 %

NYSE AWI opened at $139.55 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $131.62 and its two-hundred day moving average is $122.52. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 1-year low of $74.37 and a 1-year high of $143.07.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Equities analysts forecast that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in Armstrong World Industries during the 1st quarter worth about $27,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries during the 3rd quarter worth about $31,000. First Horizon Advisors Inc. lifted its position in Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares in the last quarter. UMB Bank n.a. raised 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 valued at $58,000 after purchasing an additional 153 shares during the period. Finally, CWM LLC raised its holdings in shares of Armstrong World Industries by 17.3% in the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after purchasing an additional 95 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.