Armstrong World Industries (NYSE:AWI) Given a $190.00 Price Target at Loop Capital

Key Points

• Loop Capital raised its target price for Armstrong World Industries from $158.00 to $190.00, indicating a slight potential upside from the stock’s previous close.
• Multiple analysts have given Armstrong World Industries buy ratings and raised their price targets, with Truist Financial setting a new target of $195.00.
• The stock of Armstrong World Industries increased by 2.5%, trading at $189.30, and also reported better-than-expected quarterly earnings with an EPS of $2.09.

Armstrong World Industries (NYSE:AWI - Get Free Report) received a $190.00 price objective from research analysts at Loop Capital in a research report issued on Wednesday, MarketBeat reports. The firm presently has a "hold" rating on the construction company's stock. Loop Capital's target price would suggest a potential upside of 0.88% from the company's current price.

Other equities analysts have also issued reports about the stock. Wall Street Zen raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Bank of America raised their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. UBS Group reaffirmed a "neutral" rating and issued a $178.00 price objective (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday. Evercore ISI increased their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a report on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

Armstrong World Industries Trading Up 0.1%

NYSE AWI traded up $0.17 during trading hours on Wednesday, hitting $188.34. 515,067 shares of the company's stock were exchanged, compared to its average volume of 379,878. The business's 50 day moving average is $162.54 and its 200-day moving average is $151.72. The firm has a market capitalization of $8.15 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.61. Armstrong World Industries has a 12-month low of $117.92 and a 12-month high of $191.74.

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 the consensus estimate of $1.75 by $0.34. The business 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 firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. As a group, analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Armstrong World Industries by 0.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,338,833 shares of the construction company's stock valued at $188,615,000 after acquiring an additional 8,762 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Armstrong World Industries by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 1,282,996 shares of the construction company's stock worth $180,748,000 after purchasing 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 fourth quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company's stock valued at $125,444,000 after buying an additional 35,738 shares during the last quarter. Invesco Ltd. lifted its holdings in Armstrong World Industries by 34.0% in the first 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 period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Armstrong World Industries by 140.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after buying an additional 389,000 shares during the period. Institutional investors own 98.93% of the company's stock.

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.