JPMorgan Chase & Co. Reiterates Underweight Rating for Armstrong World Industries (AWI)
Armstrong World Industries (NYSE:AWI)‘s stock had its “underweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday. They currently have a $53.00 target price on the stock, up from their previous target price of $51.00. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 6.39% from the company’s current price.
AWI has been the subject of a number of other recent research reports. Analysts at Macquarie upgraded shares of Armstrong World Industries from a “neutral” rating to an “outperform” rating in a research note on Friday, June 6th. They now have a $67.00 price target on the stock, up previously from $57.00. Separately, analysts at CL King upgraded shares of Armstrong World Industries from a “neutral” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, analysts at Gabelli downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Armstrong World Industries currently has an average rating of “Buy” and an average price target of $62.11.
Shares of Armstrong World Industries (NYSE:AWI) traded down 0.88% during mid-day trading on Wednesday, hitting $56.12. The stock had a trading volume of 689,730 shares. Armstrong World Industries has a 1-year low of $44.93 and a 1-year high of $61.90. The stock has a 50-day moving average of $53.62 and a 200-day moving average of $55.2. The company has a market cap of $3.076 billion and a P/E ratio of 30.23.
Armstrong World Industries (NYSE:AWI) last released its earnings data on Monday, April 28th. The company reported $0.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $0.01. The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $641.32 million. During the same quarter last year, the company posted $0.22 earnings per share. Armstrong World Industries’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Armstrong World Industries will post $2.61 EPS 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.
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