JPMorgan Chase & Co. Initiates Coverage on Armstrong World Industries (NYSE:AWI)

JPMorgan Chase & Co. started coverage on shares of Armstrong World Industries (NYSE:AWI - Free Report) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $200.00 price target on the construction company's stock.

Several other equities research analysts also recently commented on AWI. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. UBS Group upped their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Loop Capital dropped their target price on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $162.88.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $1.63 during mid-day trading on Tuesday, hitting $162.21. The company had a trading volume of 181,880 shares, compared to its average volume of 274,613. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.01 and a beta of 1.38. The firm's 50 day simple moving average is $151.46 and its two-hundred day simple moving average is $147.31. Armstrong World Industries has a 12 month low of $110.68 and a 12 month high of $164.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a return on equity of 39.37% and a net margin of 18.25%. The firm had revenue of $382.70 million during the quarter, compared to the consensus estimate of $370.71 million. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.308 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.76%. Armstrong World Industries's payout ratio is presently 19.68%.

Hedge Funds Weigh In On Armstrong World Industries

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC increased its position in shares of Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after buying an additional 140 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Armstrong World Industries during the fourth quarter worth $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in Armstrong World Industries by 652.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the construction company's stock worth $47,000 after purchasing an additional 287 shares during the period. Versant Capital Management Inc bought a new position in Armstrong World Industries during the 1st quarter worth about $54,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Armstrong World Industries by 90.2% in the 4th quarter. Farther Finance Advisors LLC now owns 426 shares of the construction company's stock valued at $60,000 after purchasing an additional 202 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

About Armstrong World Industries

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.