Armstrong World Industries (NYSE:AWI) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries (NYSE:AWI - Get Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set an "overweight" rating and a $200.00 price target on the construction company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 27.94% from the stock's previous close.

Several other analysts have also recently weighed in on AWI. The Goldman Sachs Group increased 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 note on Friday, February 28th. Truist Financial upped their target price on shares of Armstrong World Industries from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Bank of America boosted their price target on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Loop Capital decreased their price objective on shares of Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group increased their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $162.88.

Armstrong World Industries Stock Performance

NYSE AWI opened at $156.32 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.60. The stock's fifty day moving average is $149.97 and its two-hundred day moving average is $147.12. The firm has a market capitalization of $6.79 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.38. Armstrong World Industries has a fifty-two week low of $110.68 and a fifty-two week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The firm had revenue of $382.70 million for the quarter, compared to analysts' expectations of $370.71 million. During the same quarter in the previous year, the company posted $1.38 EPS. The company's revenue was up 17.3% compared to the same quarter last year. On average, research analysts anticipate that Armstrong World Industries will post 6.18 earnings per share for the current year.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Armstrong World Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company's stock worth $656,922,000 after acquiring an additional 34,579 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Armstrong World Industries by 0.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company's stock worth $188,615,000 after buying an additional 8,762 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Armstrong World Industries by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,282,996 shares of the construction company's stock worth $180,748,000 after acquiring an additional 84,195 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock worth $125,444,000 after acquiring an additional 35,738 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Armstrong World Industries by 34.0% in the 1st quarter. Invesco Ltd. now owns 680,622 shares of the construction company's stock valued at $95,886,000 after acquiring an additional 172,779 shares during the last quarter. 98.93% of the stock is 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.

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