Armstrong World Industries (NYSE:AWI) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Armstrong World Industries has been upgraded to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of approximately $162.88.
• Armstrong reported strong quarterly earnings with $1.66 earnings per share, surpassing estimates and showing a 17.3% year-over-year revenue growth.

Armstrong World Industries (NYSE:AWI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. began 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 target for the company. Bank of America increased their target price on Armstrong World Industries from $162.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Loop Capital decreased their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.88.

Armstrong World Industries Stock Performance

NYSE:AWI opened at $168.67 on Friday. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.10 and a beta of 1.37. The business has a 50 day moving average of $159.83 and a 200 day moving average of $150.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.60 and a quick ratio of 1.10. Armstrong World Industries has a 1-year low of $117.92 and a 1-year high of $170.85.

Armstrong World Industries (NYSE:AWI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Armstrong World Industries had a net margin of 18.25% and a return on equity of 39.37%. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $370.71 million. During the same period in the previous year, the business posted $1.38 EPS. The business's quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Armstrong World Industries

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Armstrong World Industries by 113.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,773 shares of the construction company's stock valued at $672,000 after acquiring an additional 2,538 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Armstrong World Industries by 194.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock worth $683,000 after purchasing an additional 3,200 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Armstrong World Industries in the 4th quarter worth $2,326,000. Golden State Wealth Management LLC lifted its position in shares of Armstrong World Industries by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Armstrong World Industries by 9.2% during the 1st quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock valued at $283,000 after purchasing an additional 169 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

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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