Nomura set a $65.00 price objective on Armstrong World Industries (NYSE:AWI) in a report released on Tuesday, November 21st. The firm currently has a buy rating on the construction company’s stock.
Several other equities research analysts also recently commented on AWI. BidaskClub downgraded shares of Armstrong World Industries from a hold rating to a sell rating in a research report on Thursday, July 27th. ValuEngine downgraded shares of Armstrong World Industries from a buy rating to a hold rating in a research report on Tuesday, August 1st. TheStreet upgraded shares of Armstrong World Industries from a c+ rating to a b rating in a research report on Monday, July 31st. Deutsche Bank increased their target price on shares of Armstrong World Industries from $52.00 to $53.00 and gave the stock a buy rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $50.00 target price on shares of Armstrong World Industries in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $55.14.
Shares of Armstrong World Industries (NYSE:AWI) traded up $1.20 during trading hours on Tuesday, reaching $59.10. 635,091 shares of the company were exchanged, compared to its average volume of 507,829. The company has a market capitalization of $3,086.06, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.77 and a beta of 1.78. Armstrong World Industries has a 1 year low of $38.45 and a 1 year high of $60.25. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 2.25.
Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). The business had revenue of $351.90 million for the quarter, compared to the consensus estimate of $357.29 million. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. research analysts predict that Armstrong World Industries will post 2.81 earnings per share for the current fiscal year.
Armstrong World Industries declared that its board has initiated a share repurchase plan on Monday, October 30th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, SVP Ellen R. Romano sold 33,087 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total value of $1,809,197.16. Following the transaction, the senior vice president now directly owns 14,769 shares in the company, valued at approximately $807,568.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AWI. JPMorgan Chase & Co. lifted its holdings in shares of Armstrong World Industries by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Armstrong World Industries by 239.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock worth $128,000 after acquiring an additional 1,964 shares during the period. SG Americas Securities LLC bought a new position in shares of Armstrong World Industries during the 2nd quarter worth about $149,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Armstrong World Industries by 65.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock worth $162,000 after acquiring an additional 1,391 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Armstrong World Industries during the 3rd quarter worth about $193,000.
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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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