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Armstrong World Industries (NYSE:AWI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Friday. They currently have a $51.00 price target on the stock. Zacks‘s price objective would suggest a potential downside of 9.80% from the stock’s previous close.

Zacks’ analyst wrote, “We are downgrading our recommendation on Armstrong World from Neutral to Underperform with a target price of $51. In the second quarter, the company’s adjusted earnings fell 1% year over year to $0.60 per share impacted by lower volumes and rising lumber costs, partly offset by favorable price and mix. For the third quarter of 2014, the company expects sales to stand between $740?$780 million. Armstrong World trimmed its full-year 2014 guidance based on expectations that both residential and commercial discretionary repair and remodel spend will remain flat to down for the full year. Overall commercial volumes are also expected to be down. Raw material inflation and the underperforming resilient business in Europe also pose concerns for the company.”

Shares of Armstrong World Industries (NYSE:AWI) traded up 0.39% on Friday, hitting $56.76. The stock had a trading volume of 204,480 shares. Armstrong World Industries has a 1-year low of $47.51 and a 1-year high of $61.90. The stock has a 50-day moving average of $54.42 and a 200-day moving average of $54.82. The company has a market cap of $3.113 billion and a P/E ratio of 32.93.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, July 28th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Armstrong World Industries will post $2.28 earnings per share for the current fiscal year.

In other Armstrong World Industries news, VP Stephen F. Mcnamara sold 4,881 shares of Armstrong World Industries stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.65, for a total transaction of $261,865.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Armstrong World Industries from an “underweight” rating to a “neutral” rating in a research note on Monday, August 4th. They now have a $56.50 price target on the stock, up previously from $49.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Armstrong World Industries in a research note on Friday, August 1st. They now have a $59.00 price target on the stock, down previously from $64.00. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Armstrong World Industries currently has a consensus rating of “Buy” and a consensus price target of $58.94.

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 Zacks’ official website.

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