Goldman Sachs Increases Armstrong World Industries Price Target to $65.00 (AWI)
Equities researchers at Goldman Sachs boosted their target price on shares of Armstrong World Industries (NYSE:AWI) to $65.00 in a research report issued on Wednesday. Goldman Sachs’ price target would suggest a potential upside of 11.78% from the stock’s previous close.
Shares of Armstrong World Industries (NYSE:AWI) traded up 0.69% during mid-day trading on Wednesday, hitting $58.55. The stock had a trading volume of 57,629 shares. Armstrong World Industries has a 52-week low of $48.02 and a 52-week high of $61.90. The stock’s 50-day moving average is $54.59 and its 200-day moving average is $54.72. The company has a market cap of $3.211 billion and a P/E ratio of 33.87.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results 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. Analysts expect that Armstrong World Industries will post $2.28 EPS for the current fiscal year.
A number of other firms have also recently commented on AWI. Analysts at Zacks downgraded shares of Armstrong World Industries from a “neutral” rating to an “underperform” rating in a research note on Friday, August 22nd. They now have a $51.00 price target on the stock. Separately, 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. Finally, 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 assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $59.61.
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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