Wall Street analysts predict that Armstrong World Industries Inc (NYSE:AWI) will report $317.52 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Armstrong World Industries’ earnings, with estimates ranging from $317.33 million to $317.70 million. Armstrong World Industries posted sales of $297.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The company is expected to announce its next earnings report on Monday, February 26th.
On average, analysts expect that Armstrong World Industries will report full-year sales of $317.52 million for the current year. For the next financial year, analysts forecast that the company will post sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Armstrong World Industries.
A number of equities research analysts have recently weighed in on AWI shares. SunTrust Banks restated a “buy” rating and issued a $55.00 price objective on shares of Armstrong World Industries in a report on Wednesday, November 1st. Nomura set a $65.00 target price on shares of Armstrong World Industries and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, November 27th. Jefferies Group reaffirmed a “hold” rating and issued a $66.00 target price on shares of Armstrong World Industries in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $55.00 target price on shares of Armstrong World Industries in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Armstrong World Industries has a consensus rating of “Hold” and a consensus price target of $56.50.
Armstrong World Industries declared that its Board of Directors has approved a stock repurchase program on Monday, October 30th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Armstrong World Industries news, SVP Ellen R. Romano sold 33,087 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the transaction, the senior vice president now directly owns 14,769 shares of the company’s stock, valued at approximately $807,568.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in Armstrong World Industries by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock valued at $106,000 after purchasing an additional 286 shares during the period. Balter Liquid Alternatives LLC increased its position in Armstrong World Industries by 3.0% during the 4th quarter. Balter Liquid Alternatives LLC now owns 52,038 shares of the construction company’s stock valued at $3,151,000 after purchasing an additional 1,510 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Armstrong World Industries by 9.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,500 shares of the construction company’s stock valued at $948,000 after purchasing an additional 1,600 shares during the period. Legal & General Group Plc increased its position in Armstrong World Industries by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 63,868 shares of the construction company’s stock valued at $3,275,000 after purchasing an additional 2,130 shares during the period. Finally, Cerebellum GP LLC purchased a new position in Armstrong World Industries during the 4th quarter valued at $129,000.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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