Evercore ISI Issues Positive Forecast for Armstrong World Industries (NYSE:AWI) Stock Price

by · The Markets Daily

Armstrong World Industries (NYSE:AWI – Get Free Report) had its price objective raised by stock analysts at Evercore ISI from $127.00 to $140.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price target points to a potential downside of 1.27% from the company’s current price.

AWI has been the subject of a number of other research reports. Truist Financial increased their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, UBS Group boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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Armstrong World Industries Stock Performance

Shares of AWI traded up $1.80 during trading hours on Wednesday, reaching $141.80. 78,515 shares of the company traded hands, compared to its average volume of 311,087. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The stock’s fifty day moving average is $130.96 and its 200 day moving average is $122.28. Armstrong World Industries has a 1-year low of $74.37 and a 1-year high of $143.07. The stock has a market cap of $6.20 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter in the prior year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at about $27,000. Van ECK Associates Corp increased its stake in shares of Armstrong World Industries by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 17,987 shares of the construction company’s stock valued at $2,234,000 after acquiring an additional 4,811 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in Armstrong World Industries by 147.2% during the 1st quarter. Capstone Investment Advisors LLC now owns 5,427 shares of the construction company’s stock worth $674,000 after acquiring an additional 3,232 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in Armstrong World Industries by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 38,666 shares of the construction company’s stock valued at $4,803,000 after purchasing an additional 506 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in Armstrong World Industries in the first quarter worth $1,150,000. 98.93% of the stock is currently owned by institutional investors.

Armstrong World Industries Company Profile

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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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