Armstrong World Industries (AWI) – Investment Analysts’ Recent Ratings Changes
A number of research firms have changed their ratings and price targets for Armstrong World Industries (NYSE: AWI):
- 10/4/2016 – Armstrong World Industries was given a new $39.00 price target on by analysts at Bank of America Corp.. They now have a “sell” rating on the stock.
- 9/27/2016 – Armstrong World Industries was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Armstrong World reaffirmed its full-year 2016 adjusted EBITDA guidance led by its focus on cost reduction actions and solid performance in the Americas. Moreover, improvement in AUV, innovation in product pipeline and customer relationships and share buybacks will aid growth. These are well reflected in the company’s positive record of earnings surprises in recent quarters. However, Armstrong World lowered 2016 sales outlook to the $1.23–$1.28 billion range due to softness in international markets. Uncertainty created by the recent Brexit decision will also affect business investments and delay project funding. Further, sluggish end markets, particularly the emerging markets impacted by lower commodity prices, will hurt earnings.”
- 9/23/2016 – Armstrong World Industries is now covered by analysts at Bank of America Corp.. They set an “underperform” rating and a $38.00 price target on the stock.
- 9/23/2016 – Armstrong World Industries was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $48.00 price target on the stock. According to Zacks, “Armstrong World reaffirmed its full-year 2016 adjusted EBITDA guidance based on its expectation of savings from cost reduction actions and volume improvement in the Americas. Volume improvement will be driven by new construction start activity. The company will also grow by leveraging its innovative product pipeline to provide customers with industry-leading products. The company’s new high-performance ceiling solutions meet the most stringent sustainability compliance and transparency standards in the market today. With the new sustained program, the company has optimized ingredients to support the design of healthy buildings. Moreover, focus on developing customer relationships and share buybacks will drive Armstrong World’s results. The company has a positive record of earnings surprises in the recent quarters.”
Armstrong World Industries Inc. (NYSE:AWI) traded up 2.18% during mid-day trading on Wednesday, reaching $41.19. 561,017 shares of the company traded hands. The company’s 50 day moving average price is $42.10 and its 200 day moving average price is $41.60. The firm has a market capitalization of $2.29 billion, a P/E ratio of 91.74 and a beta of 1.50. Armstrong World Industries Inc. has a 12-month low of $31.32 and a 12-month high of $45.75.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The firm had revenue of $314.30 million for the quarter, compared to analyst estimates of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The business’s revenue was down 50.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts predict that Armstrong World Industries Inc. will post $2.25 EPS for the current year.
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In related news, VP Stephen F. Mcnamara sold 2,274 shares of Armstrong World Industries stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.00, for a total transaction of $102,330.00. Following the transaction, the vice president now owns 5,242 shares in the company, valued at $235,890. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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