Armstrong World Industries (NYSE:AWI) Hits New 52-Week High - Still a Buy?

Key Points

• Shares of Armstrong World Industries hit a new 52-week high of $204.17 during mid-day trading, well above the previous close of $201.22.
• Analyst ratings are mixed, with Truist Financial raising their target price to $230.00, while others downgraded their ratings, resulting in an average rating of "Moderate Buy" with a target price of $202.25.
• Armstrong reported a strong quarterly earnings result with $1.36 EPS and announced a dividend yielding 0.6% for investors.

Shares of Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $203.75 and last traded at $204.17, with a volume of 20593 shares trading hands. The stock had previously closed at $201.22.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AWI shares. Truist Financial lifted their target price on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Zacks Research cut Armstrong World Industries from a "strong-buy" rating to a "hold" rating in a report on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Armstrong World Industries in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.25.

Armstrong World Industries Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $196.13 and its 200-day moving average is $170.55. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.00 and a beta of 1.45.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share (EPS) for the quarter. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%.The company had revenue of $325.00 million during the quarter. On average, analysts forecast that Armstrong World Industries, Inc. will post 6.18 EPS for the current year.

Armstrong World Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 7th. Armstrong World Industries's payout ratio is currently 18.20%.

Institutional Investors Weigh In On Armstrong World Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of AWI. GAMMA Investing LLC boosted its position in Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock worth $283,000 after acquiring an additional 169 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Armstrong World Industries by 113.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after purchasing an additional 2,538 shares in the last quarter. Lecap Asset Management Ltd. lifted its position in Armstrong World Industries by 178.5% during the 1st quarter. Lecap Asset Management Ltd. now owns 11,603 shares of the construction company's stock worth $1,635,000 after buying an additional 7,437 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock valued at $39,000 after acquiring an additional 140 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Armstrong World Industries during the first quarter valued at approximately $892,000. 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.

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