Truist Financial Issues Positive Forecast for Armstrong World Industries (NYSE:AWI) Stock Price

Key Points

• Truist Financial has raised its price target for Armstrong World Industries from $195.00 to $230.00, suggesting a potential upside of 15.53% from the current stock price.
• Armstrong World Industries reported a quarterly EPS of $2.09, exceeding estimates and reflecting a revenue increase of 16.3% year-over-year, amounting to $424.60 million.
• Currently, there is a consensus rating of "Moderate Buy" for Armstrong World Industries, with four analysts issuing "Buy" recommendations and four giving "Hold" ratings.

Armstrong World Industries (NYSE:AWI - Free Report) had its price target raised by Truist Financial from $195.00 to $230.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the construction company's stock.

AWI has been the topic of several other research reports. Bank of America raised their price target on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. 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 target price on the stock. Wall Street Zen downgraded Armstrong World Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Evercore ISI raised their price target 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. Finally, UBS Group restated a "neutral" rating and issued a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $181.50.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $2.21 during trading hours on Friday, reaching $197.26. The stock had a trading volume of 79,955 shares, compared to its average volume of 324,714. The business's fifty day moving average is $186.31 and its two-hundred day moving average is $161.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.61 and a quick ratio of 1.11. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.16 and a beta of 1.46. Armstrong World Industries has a twelve month low of $122.37 and a twelve month high of $200.84.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating 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 analyst estimates of $404.05 million. During the same period in the prior year, the company posted $1.62 earnings per share. Armstrong World Industries's revenue was up 16.3% on a year-over-year basis. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, research analysts expect that Armstrong World Industries will post 6.18 EPS for the current year.

Armstrong World Industries Dividend Announcement

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

Institutional Trading of Armstrong World Industries

Several institutional investors and hedge funds have recently modified their holdings of AWI. Wealth Alliance LLC increased its position in shares of Armstrong World Industries by 2.5% during the second quarter. Wealth Alliance LLC now owns 2,339 shares of the construction company's stock valued at $380,000 after acquiring an additional 56 shares during the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of 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 valued at $221,000 after acquiring an additional 84 shares during the last quarter. Tidal Investments LLC increased its position in shares of Armstrong World Industries by 1.8% during the fourth quarter. Tidal Investments LLC now owns 5,234 shares of the construction company's stock valued at $740,000 after acquiring an additional 93 shares during the last quarter. Bridges Investment Management Inc. increased its position in shares of 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 valued at $426,000 after acquiring an additional 100 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Armstrong World Industries by 0.6% during the second quarter. Yousif Capital Management LLC now owns 16,398 shares of the construction company's stock valued at $2,664,000 after acquiring an additional 100 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.