SunTrust Banks reiterated their buy rating on shares of Armstrong World Industries (NYSE:AWI) in a research note published on Wednesday, November 22nd. The firm currently has a $62.00 target price on the construction company’s stock. SunTrust Banks also issued estimates for Armstrong World Industries’ Q2 2018 earnings at $0.86 EPS and FY2018 earnings at $3.20 EPS.
AWI has been the subject of a number of other reports. Nomura set a $65.00 price target on Armstrong World Industries and gave the company a buy rating in a research note on Tuesday, November 21st. Royal Bank Of Canada raised their price objective on Armstrong World Industries from $55.00 to $58.00 and gave the stock a sector perform rating in a research note on Wednesday, November 22nd. BidaskClub lowered Armstrong World Industries from a hold rating to a sell rating in a research note on Thursday, July 27th. ValuEngine lowered Armstrong World Industries from a buy rating to a hold rating in a research note on Tuesday, August 1st. Finally, KeyCorp reissued a hold rating on shares of Armstrong World Industries in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Armstrong World Industries has an average rating of Hold and a consensus price target of $55.14.
Shares of Armstrong World Industries (NYSE:AWI) traded up $1.20 during trading on Wednesday, hitting $59.10. The stock had a trading volume of 635,091 shares, compared to its average volume of 507,829. Armstrong World Industries has a fifty-two week low of $38.45 and a fifty-two week high of $60.25. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market cap 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 (NYSE:AWI) last posted its earnings results on Monday, October 30th. The construction company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The business had revenue of $351.90 million during the quarter, compared to analyst estimates of $357.29 million. Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. research analysts forecast that Armstrong World Industries will post 2.81 EPS for the current year.
Armstrong World Industries declared that its board has authorized a stock buyback plan on Monday, October 30th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Armstrong World Industries news, SVP Ellen R. Romano sold 33,087 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the transaction, the senior vice president now directly owns 14,769 shares in the company, valued at $807,568.92. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of AWI. BlackRock Inc. grew its position in shares of Armstrong World Industries by 10,381.5% in the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after purchasing an additional 1,904,378 shares during the last quarter. River Road Asset Management LLC acquired a new stake in shares of Armstrong World Industries in the second quarter valued at about $39,704,000. Timucuan Asset Management Inc. FL acquired a new stake in shares of Armstrong World Industries in the second quarter valued at about $19,748,000. Iridian Asset Management LLC CT grew its position in Armstrong World Industries by 7.6% during the second quarter. Iridian Asset Management LLC CT now owns 4,750,675 shares of the construction company’s stock worth $218,531,000 after buying an additional 336,960 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Armstrong World Industries during the second quarter worth about $9,668,000.
WARNING: This news story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/12/07/armstrong-world-industries-inc-awi-price-target-increased-to-62-00-by-analysts-at-suntrust-banks-inc.html.
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.
Receive News & Ratings for Armstrong World Industries Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong World Industries Inc and related companies with MarketBeat.com's FREE daily email newsletter.