Bank of America Increases Armstrong World Industries (NYSE:AWI) Price Target to $220.00

Key Points

• Bank of America has raised its price target for Armstrong World Industries to $220.00, indicating a potential upside of 11.69% from the current stock price.
• Armstrong World Industries reported earnings of $2.09 per share, exceeding analyst estimates and showing a 16.3% increase in revenue compared to the previous year.
• Analysts have varied ratings on the stock, with five analysts giving it a "Buy" rating and an average target price consensus of $187.75.

Armstrong World Industries (NYSE:AWI - Get Free Report) had its price target raised by research analysts at Bank of America from $205.00 to $220.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Bank of America's price objective suggests a potential upside of 11.69% from the stock's current price.

Several other research firms have also commented on AWI. JPMorgan Chase & Co. initiated coverage on Armstrong World Industries in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $200.00 target price for the company. Truist Financial upped their price target on shares of Armstrong World Industries from $195.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Evercore ISI raised their price objective on Armstrong World Industries from $157.00 to $182.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, UBS Group reissued a "neutral" rating and issued a $178.00 price target (up previously from $158.00) on shares of Armstrong World Industries in a report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $187.75.

Armstrong World Industries Stock Up 0.4%

NYSE AWI opened at $196.97 on Monday. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 2.16 and a beta of 1.45. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. Armstrong World Industries has a 52 week low of $122.37 and a 52 week high of $200.84. The company has a fifty day moving average of $193.69 and a two-hundred day moving average of $166.17.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, July 29th. The construction company reported $2.09 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 firm had revenue of $424.60 million during the quarter, compared to the consensus estimate of $404.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. On average, analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors and hedge funds have recently made changes to their positions in AWI. Aaron Wealth Advisors LLC bought a new position in Armstrong World Industries in the 3rd quarter worth $1,095,000. GAMMA Investing LLC grew its stake in shares of Armstrong World Industries by 11.4% during the third quarter. GAMMA Investing LLC now owns 2,405 shares of the construction company's stock valued at $471,000 after buying an additional 247 shares during the last quarter. Corient Private Wealth LLC boosted its position in Armstrong World Industries by 0.9% in the 2nd quarter. Corient Private Wealth LLC now owns 14,383 shares of the construction company's stock valued at $2,336,000 after buying an additional 131 shares during the period. Squarepoint Ops LLC grew its holdings in Armstrong World Industries by 116.8% during the 2nd quarter. Squarepoint Ops LLC now owns 5,194 shares of the construction company's stock worth $844,000 after acquiring an additional 2,798 shares in the last quarter. Finally, State of Wyoming lifted its position 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 buying an additional 110 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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.

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