StockNews.com Upgrades Armstrong World Industries (NYSE:AWI) to “Buy”

Armstrong World Industries (NYSE:AWI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

AWI has been the subject of a number of other research reports. Loop Capital upped their price objective on shares of 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 target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI boosted their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Trading Up 1.7 %

NYSE AWI opened at $151.15 on Wednesday. Armstrong World Industries has a 12 month low of $96.69 and a 12 month high of $164.40. The company has a 50-day moving average of $150.35 and a 200-day moving average of $137.09. 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 company has a market cap of $6.59 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.72 and a beta of 1.18.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. During the same quarter in the prior year, the company posted $1.60 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Armstrong World Industries by 3.7% during the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after buying an additional 51,839 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock valued at $111,954,000 after buying an additional 34,028 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Armstrong World Industries by 16.0% during the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after buying an additional 67,798 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Armstrong World Industries by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 472,300 shares of the construction company’s stock valued at $62,074,000 after buying an additional 18,333 shares during the last quarter. Finally, Harvey Partners LLC boosted its stake in shares of Armstrong World Industries by 0.4% during the 3rd quarter. Harvey Partners LLC now owns 230,500 shares of the construction company’s stock valued at $30,295,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors 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.