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Armstrong World Industries (NYSE:AWI) Given a $195.00 Price Target at Truist Financial

Armstrong World Industries logo with Construction background

Key Points

  • Truist Financial raised its price target for Armstrong World Industries from $175.00 to $195.00, indicating a potential upside of 3.06% from its previous close.
  • Armstrong World Industries reported strong quarterly earnings, with earnings per share of $2.09, surpassing the consensus estimate by $0.34 and achieving a revenue of $424.60 million.
  • Institutional investors heavily increased their stakes in Armstrong World Industries, with a reported 98.93% of the stock now owned by such entities.
  • Looking to export and analyze Armstrong World Industries data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Armstrong World Industries (NYSE:AWI - Get Free Report) received a $195.00 price target from stock analysts at Truist Financial in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the construction company's stock. Truist Financial's price objective points to a potential upside of 3.17% from the company's current price.

AWI has been the topic of a number of other research reports. Wall Street Zen raised shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. 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 research report on Thursday, May 15th. JPMorgan Chase & Co. assumed coverage on Armstrong World Industries in a research report on Tuesday, June 24th. They set an "overweight" rating and a $200.00 price objective for the company. Evercore ISI boosted their price target 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. Finally, Loop Capital lowered their price target on Armstrong World Industries from $163.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

View Our Latest Analysis on Armstrong World Industries

Armstrong World Industries Stock Performance

Shares of AWI stock traded down $0.58 during trading hours on Wednesday, reaching $189.00. The company had a trading volume of 21,669 shares, compared to its average volume of 317,184. The business has a fifty day moving average price of $163.24 and a 200-day moving average price of $152.03. Armstrong World Industries has a one year low of $117.92 and a one year high of $191.74. The firm has a market cap of $8.18 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.11 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.34. The company had revenue of $424.60 million for 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%. Armstrong World Industries's revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Sell-side analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Armstrong World Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Wealth Enhancement Advisory Services LLC lifted its position 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 worth $672,000 after acquiring an additional 2,538 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Armstrong World Industries by 194.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,848 shares of the construction company's stock worth $683,000 after buying an additional 3,200 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Armstrong World Industries in the fourth quarter worth $2,326,000. Golden State Wealth Management LLC raised its position in shares of Armstrong World Industries by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company's stock worth $39,000 after buying an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Armstrong World Industries by 9.2% in the first quarter. GAMMA Investing LLC now owns 2,008 shares of the construction company's stock worth $283,000 after buying an additional 169 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

About Armstrong World Industries

(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.

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