Loop Capital Has Lowered Expectations for Armstrong World Industries (NYSE:AWI) Stock Price

Armstrong World Industries (NYSE:AWI) had its target price dropped by equities research analysts at Loop Capital from $163.00 to $158.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the construction company’s stock. Loop Capital’s target price indicates a potential upside of 7.54% from the company’s previous close.

Other equities analysts have also issued reports about the company. StockNews.com lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. UBS Group boosted their price objective on 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 lifted 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.50.

Armstrong World Industries Trading Up 1.3 %

NYSE:AWI opened at $146.92 on Wednesday. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40. The firm has a 50-day moving average price of $140.47 and a two-hundred day moving average price of $146.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same period last year, the business posted $1.38 earnings per share. Armstrong World Industries’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in Armstrong World Industries by 327.3% during the first quarter. CWM LLC now owns 5,478 shares of the construction company’s stock worth $772,000 after buying an additional 4,196 shares in the last quarter. New York State Common Retirement Fund raised its stake in Armstrong World Industries by 7.2% in the first quarter. New York State Common Retirement Fund now owns 22,197 shares of the construction company’s stock valued at $3,127,000 after purchasing an additional 1,500 shares in the last quarter. Xponance Inc. lifted its position in Armstrong World Industries by 6.6% during the first quarter. Xponance Inc. now owns 3,407 shares of the construction company’s stock valued at $480,000 after purchasing an additional 212 shares during the last quarter. Cerity Partners LLC grew its stake in Armstrong World Industries by 24.9% in the 1st quarter. Cerity Partners LLC now owns 20,924 shares of the construction company’s stock worth $2,948,000 after buying an additional 4,165 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its holdings in shares of Armstrong World Industries by 3.4% in the 1st quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company’s stock worth $426,000 after buying an additional 100 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other 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.