Share on StockTwits

Armstrong World Industries (NYSE:AWI)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday, AnalystRatings.Net reports. They currently have a $62.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 4.24% from the company’s current price.

Zacks‘ analyst wrote, “Armstrong World reported 11% year over year decline in 3Q13 earnings to $0.87 per share. Higher labor costs associated with added crews at several solid wood plants to meet increased demand, and increased manufacturing and input costs dragged down the profits despite a rise in revenues. The company trimmed full-year 2013 sales and EPS guidance due to ongoing challenges in the Wood business and volume declines in commercial markets in the U.S. and Europe. Furthermore, raw material inflation remains a concern. Nevertheless, Armstrong World will benefit from its investment in Asia, recovery in residential construction, pricing initiatives and share repurchases. Thus, we initiate our coverage on Armstrong World with a Neutral recommendation and set a target price of $62.00. “

Armstrong World Industries (NYSE:AWI) traded down 3.48% during mid-day trading on Friday, hitting $57.41. 707,276 shares of the company’s stock traded hands. Armstrong World Industries has a 52-week low of $44.93 and a 52-week high of $61.63. The stock has a 50-day moving average of $57.04 and a 200-day moving average of $53.04. The company has a market cap of $3.109 billion and a P/E ratio of 38.85.

Several other analysts have also recently commented on the stock. Analysts at Gabelli initiated coverage on shares of Armstrong World Industries in a research note to investors on Wednesday. They set a “hold” rating on the stock. Separately, analysts at Jefferson Research downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 3rd. Finally, analysts at Bank of America Corp. upgraded shares of Armstrong World Industries from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.29.

In other Armstrong World Industries news, VP Stephen Mcnamara sold 3,991 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $60.59, for a total transaction of $241,814.69. Following the transaction, the vice president now directly owns 906 shares in the company, valued at approximately $54,895. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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.

To view Zacks’ full report, visit

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.