Armstrong World Industries (NYSE:AWI) Price Target Raised to $144.00

Armstrong World Industries (NYSE:AWI) had its price objective increased by analysts at UBS Group from $136.00 to $144.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. UBS Group’s price target points to a potential upside of 3.19% from the stock’s previous close.

A number of other research firms also recently issued reports on AWI. Jefferies Financial Group raised their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial lifted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI increased their price target on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock opened at $139.55 on Wednesday. The firm has a market capitalization of $6.11 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries has a 52 week low of $74.37 and a 52 week high of $143.07. The firm’s 50 day moving average is $131.62 and its two-hundred day moving average is $122.52.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the business earned $1.60 EPS. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts forecast that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Armstrong World Industries

A number of hedge funds have recently added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. acquired a new stake in shares of Armstrong World Industries in the 1st quarter valued at approximately $2,081,000. Assenagon Asset Management S.A. boosted its position in shares of Armstrong World Industries by 107.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after purchasing an additional 33,290 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Armstrong World Industries during the 1st quarter worth $3,097,000. Duality Advisers LP acquired a new position in shares of Armstrong World Industries during the 1st quarter worth $1,150,000. Finally, Sei Investments Co. increased its holdings in shares of Armstrong World Industries by 185.3% in the 1st quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after purchasing an additional 33,927 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.