Armstrong World Industries (NYSE:AWI - Free Report) had its price objective raised by Evercore ISI from $157.00 to $182.00 in a research note released on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the construction company's stock.
A number of other analysts have also recently weighed in on AWI. Wall Street Zen raised Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Loop Capital lowered their price objective on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective for the company. Finally, Bank of America raised their price objective on Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.
Read Our Latest Report on Armstrong World Industries
Armstrong World Industries Stock Down 0.8%
Shares of NYSE:AWI traded down $1.47 on Wednesday, reaching $186.70. The company had a trading volume of 27,410 shares, compared to its average volume of 315,292. Armstrong World Industries has a 52-week low of $117.92 and a 52-week high of $191.74. The firm's 50 day simple moving average is $161.86 and its 200-day simple moving average is $151.40. The firm has a market capitalization of $8.08 billion, a PE ratio of 27.60, a PEG ratio of 2.32 and a beta of 1.37. The company has a current ratio of 1.61, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59.
Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. The firm had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. As a group, analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.
Armstrong World Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.7%. Armstrong World Industries's payout ratio is currently 18.20%.
Institutional Trading of Armstrong World Industries
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after acquiring an additional 140 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 valued at $47,000 after buying an additional 287 shares during the period. Versant Capital Management Inc acquired a new position in shares of Armstrong World Industries in the 1st quarter valued at about $54,000. Parallel Advisors LLC lifted its holdings in shares of Armstrong World Industries by 28.9% in the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the construction company's stock valued at $75,000 after buying an additional 103 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Armstrong World Industries by 40.5% in the 1st quarter. Covestor Ltd now owns 590 shares of the construction company's stock valued at $83,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.
Armstrong World Industries Company Profile
(
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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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