Armstrong World Industries Receives Underweight Rating from JPMorgan Chase & Co. (AWI)
Armstrong World Industries (NYSE:AWI)‘s stock had its “underweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $49.00 target price on the stock, down from their previous target price of $53.00. JPMorgan Chase & Co.’s price target suggests a potential downside of 1.13% from the stock’s previous close.
Armstrong World Industries (NYSE:AWI) traded down 0.08% during mid-day trading on Tuesday, hitting $49.56. 1,856,362 shares of the company’s stock traded hands. Armstrong World Industries has a 52-week low of $47.49 and a 52-week high of $61.90. The stock has a 50-day moving average of $55.86 and a 200-day moving average of $55.41. The company has a market cap of $2.716 billion and a P/E ratio of 26.48.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.06. The company had revenue of $710.00 million for the quarter, compared to the consensus estimate of $727.12 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that Armstrong World Industries will post $2.58 earnings per share for the current fiscal year.
AWI has been the subject of a number of other recent research reports. Analysts at Gabelli cut their price target on shares of Armstrong World Industries from $68.00 to $62.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Armstrong World Industries in a research note on Tuesday. They now have a $59.00 price target on the stock, down previously from $64.00. Finally, analysts at Goldman Sachs downgraded shares of Armstrong World Industries from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Armstrong World Industries presently has a consensus rating of “Buy” and a consensus price target of $58.57.
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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