Armstrong World Industries (NYSE:AWI) Rating Lowered to Hold at StockNews.com

Armstrong World Industries (NYSE:AWI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other equities research analysts also recently issued reports about the stock. Truist Financial raised their price target on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries presently has an average rating of “Hold” and a consensus price target of $153.33.

Armstrong World Industries Stock Up 2.4 %

Shares of AWI opened at $152.77 on Thursday. The firm has a 50 day simple moving average of $148.34 and a two-hundred day simple moving average of $143.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries has a one year low of $110.68 and a one year high of $164.40. The company has a market cap of $6.64 billion, a P/E ratio of 26.94, a P/E/G ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. Research analysts forecast that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new stake in shares of Armstrong World Industries in the third quarter worth $26,000. ORG Wealth Partners LLC bought a new stake in shares of Armstrong World Industries in the 4th quarter valued at about $32,000. Quent Capital LLC increased its stake in shares of Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after buying an additional 170 shares during the period. Fortitude Family Office LLC bought a new position in shares of Armstrong World Industries during the fourth quarter worth about $33,000. Finally, Twin Tree Management LP acquired a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $43,000. 98.93% of the stock is currently 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.