Gabelli Lowers Armstrong World Industries Price Target to $62.00 (AWI)
Stock analysts at Gabelli cut their target price on shares of Armstrong World Industries (NYSE:AWI) from $68.00 to $62.00 in a report issued on Tuesday. The firm currently has a “hold” rating on the stock. Gabelli’s price target indicates a potential upside of 25.00% from the company’s current price.
Armstrong World Industries (NYSE:AWI) traded down 0.89% on Tuesday, hitting $49.16. The stock had a trading volume of 327,631 shares. 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 $2.694 billion and a P/E ratio of 26.48.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.60 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.62 earnings per share. Armstrong World Industries’s revenue was up .5% compared to the same quarter last year. 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 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. Separately, 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. Finally, analysts at RBC Capital cut their price target on shares of Armstrong World Industries from $58.00 to $54.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Armstrong World Industries presently has an average rating of “Buy” and a consensus target price of $59.14.
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.