Armstrong World Industries (NYSE:AWI) Stock Price Expected to Rise, Bank of America Analyst Says

Armstrong World Industries (NYSE:AWI) had its price target hoisted by stock analysts at Bank of America from $162.00 to $170.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 6.15% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Loop Capital decreased their price objective on Armstrong World Industries from $163.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. UBS Group upped their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group upped their price objective on Armstrong World Industries from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Truist Financial upped 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and a consensus price target of $157.57.

Armstrong World Industries Stock Up 0.8%

Shares of AWI opened at $160.16 on Thursday. The business’s 50 day moving average is $141.38 and its 200 day moving average is $147.15. The company has a market capitalization of $6.96 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. Armstrong World Industries has a 12-month low of $110.68 and a 12-month high of $164.40. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

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

Institutional Investors Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently modified their holdings of AWI. Quent Capital LLC grew its position in Armstrong World Industries by 288.1% in the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after purchasing an additional 140 shares during the last quarter. Twin Tree Management LP purchased a new position in Armstrong World Industries in the 4th quarter worth about $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Armstrong World Industries by 652.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in Armstrong World Industries during the 1st quarter valued at about $54,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Company Profile

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.