Armstrong World Industries Inc (NYSE:AWI) – Investment analysts at SunTrust Banks lifted their FY2017 EPS estimates for Armstrong World Industries in a research note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings of $2.83 per share for the year, up from their previous estimate of $2.72. SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for Armstrong World Industries’ Q4 2017 earnings at $0.69 EPS and FY2018 earnings at $3.15 EPS.
A number of other analysts also recently weighed in on AWI. BidaskClub downgraded Armstrong World Industries from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. TheStreet upgraded Armstrong World Industries from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Deutsche Bank AG upped their target price on Armstrong World Industries from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price target on shares of Armstrong World Industries in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $49.00.
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Shares of Armstrong World Industries (AWI) opened at $51.15 on Thursday. The firm has a market capitalization of $2,705.27, a price-to-earnings ratio of 19.75, a PEG ratio of 1.52 and a beta of 1.73. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 2.25. Armstrong World Industries has a 1 year low of $38.45 and a 1 year high of $54.45.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The firm had revenue of $351.90 million during the quarter, compared to the consensus estimate of $357.29 million. Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of AWI. BlackRock Inc. increased its holdings in Armstrong World Industries by 10,381.5% in the 1st quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock worth $88,541,000 after purchasing an additional 1,904,378 shares in the last quarter. River Road Asset Management LLC acquired a new position in Armstrong World Industries in the 2nd quarter worth about $39,704,000. Timucuan Asset Management Inc. FL acquired a new position in Armstrong World Industries in the 2nd quarter worth about $19,748,000. Iridian Asset Management LLC CT increased its stake in shares of Armstrong World Industries by 7.6% in the second quarter. Iridian Asset Management LLC CT now owns 4,750,675 shares of the construction company’s stock valued at $218,531,000 after buying an additional 336,960 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at about $13,852,000.
Armstrong World Industries announced that its Board of Directors has authorized a stock repurchase plan on Monday, October 30th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
About Armstrong World Industries
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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