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

Armstrong World Industries logo with Construction background

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.
  • Want stock alerts on Armstrong World Industries? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Armstrong World Industries (NYSE:AWI - Get Free Report) received a $190.00 price objective from equities research analysts at Loop Capital in a research note issued on Wednesday, MarketBeat reports. The firm currently has a "hold" rating on the construction company's stock. Loop Capital's target price indicates a potential upside of 0.23% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. UBS Group reaffirmed a "neutral" rating and set a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Evercore ISI boosted their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Truist Financial set a $195.00 target price on shares of Armstrong World Industries and gave the stock a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 target price on the stock. Finally, Bank of America boosted their target price on shares of Armstrong World Industries from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $177.13.

Check Out Our Latest Stock Report on AWI

Armstrong World Industries Price Performance

NYSE AWI opened at $189.56 on Wednesday. The business has a 50 day simple moving average of $163.24 and a 200 day simple moving average of $152.03. Armstrong World Industries has a 52-week low of $117.92 and a 52-week high of $191.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.07 and a beta of 1.43.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.34. Armstrong World Industries had a return on equity of 39.80% and a net margin of 18.95%. The business had revenue of $424.60 million during the quarter, compared to analysts' expectations of $404.05 million. During the same period in the prior year, the business earned $1.62 EPS. Armstrong World Industries's revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts anticipate that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC grew its holdings in Armstrong World Industries by 5.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,570 shares of the construction company's stock worth $221,000 after buying an additional 84 shares in the last quarter. Tidal Investments LLC grew its holdings in Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock worth $740,000 after buying an additional 93 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in Armstrong World Industries by 3.4% during the first quarter. Bridges Investment Management Inc. now owns 3,027 shares of the construction company's stock worth $426,000 after buying an additional 100 shares in the last quarter. Yousif Capital Management LLC grew its stake in Armstrong World Industries by 0.6% in the 2nd quarter. Yousif Capital Management LLC now owns 16,398 shares of the construction company's stock valued at $2,664,000 after purchasing an additional 100 shares during the period. Finally, Parallel Advisors LLC grew its stake in 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 purchasing an additional 103 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Armstrong World Industries Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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