Armstrong World Industries (NYSE:AWI) Price Target Raised to $119.00

Armstrong World Industries (NYSE:AWI) had its price target lifted by Evercore ISI from $117.00 to $119.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

Several other research analysts also recently commented on the company. UBS Group upgraded Armstrong World Industries from a sell rating to a neutral rating and raised their price objective for the stock from $75.00 to $103.00 in a report on Thursday, January 4th. StockNews.com upgraded Armstrong World Industries from a hold rating to a buy rating in a research note on Thursday, March 28th. Truist Financial lifted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group increased their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Armstrong World Industries presently has an average rating of Hold and a consensus target price of $110.17.

Armstrong World Industries Stock Up 0.4 %

Shares of AWI opened at $115.62 on Wednesday. The firm has a fifty day moving average price of $120.11 and a 200-day moving average price of $101.78. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.06 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.71 and a beta of 1.12. Armstrong World Industries has a 12-month low of $62.03 and a 12-month high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.15. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. Equities research analysts expect that Armstrong World Industries will post 5.91 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.12 annualized dividend and a yield of 0.97%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

Hedge Funds Weigh In On Armstrong World Industries

A number of large investors have recently added to or reduced their stakes in AWI. Capstone Investment Advisors LLC grew its position in shares of Armstrong World Industries by 147.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 5,427 shares of the construction company’s stock worth $674,000 after buying an additional 3,232 shares during the last quarter. Van ECK Associates Corp boosted its stake in Armstrong World Industries by 36.5% in the first quarter. Van ECK Associates Corp now owns 17,987 shares of the construction company’s stock valued at $2,234,000 after acquiring an additional 4,811 shares in the last quarter. Claret Asset Management Corp purchased a new position in Armstrong World Industries in the first quarter worth $232,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Armstrong World Industries during the first quarter worth $27,000. Finally, UMB Bank n.a. lifted its holdings in shares of Armstrong World Industries by 67.3% during the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.