Armstrong World Industries (NYSE:AWI) Sets New 1-Year High After Analyst Upgrade

Key Points

• Armstrong World Industries reached a new 1-year high of $200.84 after an analyst upgrade from Truist Financial, which raised its price target from $195.00 to $230.00 while maintaining a buy rating.
• Institutional investors now hold 98.93% of Armstrong World Industries’ stock, with several hedge funds significantly increasing their positions in the second quarter.
• The company reported a 16.3% year-over-year revenue increase and EPS of $2.09, exceeding expectations and announcing guidance of 7.150-7.300 EPS for FY 2025.

Armstrong World Industries, Inc. (NYSE:AWI - Get Free Report)'s share price reached a new 52-week high during trading on Friday after Truist Financial raised their price target on the stock from $195.00 to $230.00. Truist Financial currently has a buy rating on the stock. Armstrong World Industries traded as high as $200.84 and last traded at $198.41, with a volume of 5123 shares trading hands. The stock had previously closed at $199.13.

AWI has been the topic of a number of other reports. JPMorgan Chase & Co. assumed coverage on shares of Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 price objective on the stock. Bank of America lifted their price objective on shares of Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Loop Capital set a $190.00 price objective on shares of Armstrong World Industries and gave the company a "hold" rating in a research note on Wednesday, July 30th. Evercore ISI raised their target price on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Armstrong World Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.50.

Hedge Funds Weigh In On Armstrong World Industries

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC lifted its holdings in shares of Armstrong World Industries by 116.8% during the second quarter. Squarepoint Ops LLC now owns 5,194 shares of the construction company's stock worth $844,000 after purchasing an additional 2,798 shares during the period. State of Wyoming raised its holdings in shares of Armstrong World Industries by 3.6% during the second quarter. State of Wyoming now owns 3,194 shares of the construction company's stock valued at $519,000 after purchasing an additional 110 shares during the period. Caxton Associates LLP acquired a new position in shares of Armstrong World Industries during the second quarter valued at about $297,000. Public Sector Pension Investment Board raised its holdings in shares of Armstrong World Industries by 5.6% during the second quarter. Public Sector Pension Investment Board now owns 188,590 shares of the construction company's stock valued at $30,635,000 after purchasing an additional 10,050 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Armstrong World Industries during the second quarter worth about $46,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Trading Down 0.2%

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 firm's 50-day moving average price is $184.57 and its 200 day moving average price is $160.46. The company has a market capitalization of $8.59 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.15 and a beta of 1.46.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.75 by $0.34. The company had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. As a group, equities research analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Dividend Announcement

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

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.

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