Armstrong World Industries (NYSE:AWI) Price Target Lowered to $110.00 at Truist Financial

Armstrong World Industries (NYSE:AWIGet Rating) had its price target lowered by equities researchers at Truist Financial from $124.00 to $110.00 in a research note issued on Wednesday, The Fly reports. Truist Financial’s price target would indicate a potential upside of 26.02% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Credit Suisse Group initiated coverage on shares of Armstrong World Industries in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $120.00 price target on the stock. Jefferies Financial Group upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $101.00 to $111.00 in a research report on Monday, March 21st. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Loop Capital decreased their price target on shares of Armstrong World Industries from $110.00 to $102.00 in a research report on Wednesday, February 23rd. Finally, UBS Group initiated coverage on shares of Armstrong World Industries in a research note on Wednesday, January 19th. They issued a “sell” rating and a $103.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.11.

Shares of Armstrong World Industries stock opened at $87.29 on Wednesday. The company has a market capitalization of $4.14 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.03 and a beta of 1.21. The firm’s 50 day moving average is $91.36. Armstrong World Industries has a twelve month low of $85.74 and a twelve month high of $118.14. The company has a current ratio of 1.54, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20.

Armstrong World Industries (NYSE:AWIGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The construction company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.11). Armstrong World Industries had a net margin of 16.56% and a return on equity of 40.62%. The company had revenue of $282.60 million for the quarter, compared to the consensus estimate of $289.61 million. During the same quarter last year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Armstrong World Industries will post 5.12 earnings per share for the current fiscal year.

In related news, SVP Mark A. Hershey sold 1,365 shares of the firm’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $95.11, for a total transaction of $129,825.15. Following the completion of the transaction, the senior vice president now directly owns 45,053 shares of the company’s stock, valued at $4,284,990.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Several large investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in shares of Armstrong World Industries by 342.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the construction company’s stock worth $43,000 after buying an additional 137 shares in the last quarter. CWM LLC purchased a new position in shares of Armstrong World Industries in the 4th quarter worth $28,000. NEXT Financial Group Inc grew its stake in shares of Armstrong World Industries by 75.4% in the 4th quarter. NEXT Financial Group Inc now owns 314 shares of the construction company’s stock worth $36,000 after buying an additional 135 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Armstrong World Industries by 2,013.3% in the 3rd quarter. Clearstead Advisors LLC now owns 317 shares of the construction company’s stock worth $30,000 after buying an additional 302 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Armstrong World Industries in the 3rd quarter worth $36,000. 99.57% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Company Profile (Get Rating)

Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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