Goldman Sachs Downgrades Armstrong World Industries to Buy (AWI)
Armstrong World Industries (NYSE:AWI) was downgraded by equities researchers at Goldman Sachs from a “conviction-buy” rating to a “buy” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Barclays cut their price target on shares of Armstrong World Industries from $66.00 to $64.00 in a research note on Friday, July 11th. They now have an “overweight” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Armstrong World Industries from $64.00 to $66.00 in a research note on Wednesday, July 2nd. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Armstrong World Industries has a consensus rating of “Buy” and an average target price of $59.14.
Shares of Armstrong World Industries (NYSE:AWI) traded down 1.65% during mid-day trading on Tuesday, hitting $48.78. 426,696 shares of the company’s stock traded hands. Armstrong World Industries has a 1-year low of $47.49 and a 1-year high of $61.90. The stock’s 50-day moving average is $55.86 and its 200-day moving average is $55.41. The company has a market cap of $2.674 billion and a price-to-earnings ratio of 26.48.
Armstrong World Industries (NYSE:AWI) last posted its quarterly 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. Analysts expect that Armstrong World Industries will post $2.58 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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