Armstrong World Industries (NYSE:AWI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Armstrong World Industries (NYSE:AWIFree Report) from a hold rating to a buy rating in a research report report published on Thursday morning.

AWI has been the topic of several other reports. Truist Financial upped their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a research report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a sell rating to a neutral rating and upped their price target for the stock from $75.00 to $103.00 in a research note on Thursday, January 4th. Finally, The Goldman Sachs Group upped their price target on Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $98.29.

View Our Latest Analysis on AWI

Armstrong World Industries Trading Down 0.2 %

Shares of AWI stock opened at $124.22 on Thursday. The business’s fifty day moving average price is $113.17 and its 200 day moving average price is $93.82. Armstrong World Industries has a 1-year low of $62.03 and a 1-year high of $125.56. The firm has a market capitalization of $5.44 billion, a PE ratio of 24.84, a P/E/G ratio of 1.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.07.

Armstrong World Industries (NYSE:AWIGet Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $312.30 million for the quarter, compared to analyst estimates of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. Armstrong World Industries’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, sell-side analysts forecast that Armstrong World Industries will post 5.74 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.90%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.40%.

Institutional Investors Weigh In On Armstrong World Industries

Hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new stake in Armstrong World Industries during the 3rd quarter valued at approximately $1,630,000. Barclays PLC lifted its holdings in Armstrong World Industries by 42.2% during the 3rd quarter. Barclays PLC now owns 24,225 shares of the construction company’s stock worth $1,743,000 after buying an additional 7,186 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Armstrong World Industries during the 3rd quarter worth approximately $244,000. Tudor Investment Corp Et Al bought a new position in Armstrong World Industries during the 2nd quarter worth approximately $5,408,000. Finally, Citigroup Inc. lifted its holdings in Armstrong World Industries by 13.4% during the 3rd quarter. Citigroup Inc. now owns 16,664 shares of the construction company’s stock worth $1,200,000 after buying an additional 1,967 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

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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.

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Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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