Insider Selling: Tpg Advisors Vi, Inc. Unloads 2,744,425 Shares of Armstrong World Industries Stock (AWI)
Armstrong World Industries (NYSE:AWI) major shareholder Tpg Advisors Vi, Inc. unloaded 2,744,425 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $51.41, for a total transaction of $141,090,889.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of analysts have recently weighed in on AWI shares. Analysts at RBC Capital cut their price target on shares of Armstrong World Industries (NYSE:AWI) from $57.00 to $55.00 in a research note to investors on Tuesday, July 30th. They now have a “sector perform” rating on the stock. Separately, analysts at Bank Degroof(ESN) initiated coverage on shares of Armstrong World Industries (NYSE:AWI) in a research note to investors on Friday, July 19th. They set a “buy” rating and a $64.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Armstrong World Industries (NYSE:AWI) in a research note to investors on Friday, July 19th. They set a “buy” rating and a GBX 64 ($1.00) price target on the stock.
One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $58.88.
Armstrong World Industries (NYSE:AWI) traded up 0.38% during mid-day trading on Friday, hitting $52.68. 590,165 shares of the company’s stock traded hands. Armstrong World Industries has a one year low of $44.80 and a one year high of $58.48. The stock’s 50-day moving average is $49.92 and its 200-day moving average is $51.07. The company has a market cap of $3.118 billion and a P/E ratio of 30.44.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.62 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.02. The company had revenue of $706.60 million for the quarter, compared to the consensus estimate of $694.27 million. During the same quarter last year, the company posted $0.71 earnings per share. Armstrong World Industries’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Armstrong World Industries will post $2.20 earnings per share for the current fiscal year.
Armstrong World Industries, Inc (NYSE:AWI) is a global producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.