Armstrong World Industries (NYSE:AWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $65.00 price target on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.98% from the stock’s current price.
According to Zacks, “Armstrong World’s first-quarter adjusted earnings per share and revenues both improved on a year-over-year basis but missed the respective Zacks Consensus Estimate. For 2018, the company expects net sales to grow 5-7% aided by a modest upturn in volume and average unit value (AUV) improvement. The company raised EPS guidance to $3.60-$3.82, reflecting a 19-27% growth year over year. Results will also be supported by price increases, strong repair and remodel activity along with the continuation of positive new building construction activity. Productivity improvements in plants and focus on restructuring activities will aid the bottom line. Also, continued sales leverage and capital investments at Tectum will fortify its Architectural Specialty business. Moreover, investment in new products, segment reclassification and strong balance sheet will drive Armstrong World’s growth. Over the past year, the stock has outperformed the industry.”
AWI has been the subject of a number of other research reports. Stephens restated a “hold” rating and set a $64.00 price target on shares of Armstrong World Industries in a research note on Thursday, March 1st. Jefferies Group reaffirmed a “hold” rating and set a $66.00 price objective on shares of Armstrong World Industries in a report on Wednesday, January 17th. SunTrust Banks reaffirmed a “buy” rating and set a $67.00 price objective on shares of Armstrong World Industries in a report on Monday, February 26th. JPMorgan Chase lowered shares of Armstrong World Industries from a “neutral” rating to an “underweight” rating in a report on Wednesday, March 7th. Finally, Goldman Sachs raised shares of Armstrong World Industries from a “sell” rating to a “neutral” rating in a report on Wednesday, April 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Armstrong World Industries currently has an average rating of “Hold” and a consensus price target of $62.00.
Armstrong World Industries traded up $0.65, reaching $59.10, during midday trading on Wednesday, according to Marketbeat.com. 10,925 shares of the company’s stock were exchanged, compared to its average volume of 417,476. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 0.92 and a beta of 1.69. The company has a quick ratio of 2.20, a current ratio of 2.44 and a debt-to-equity ratio of 2.01. Armstrong World Industries has a one year low of $58.50 and a one year high of $59.00.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, April 30th. The construction company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). The business had revenue of $227.30 million for the quarter, compared to the consensus estimate of $231.35 million. Armstrong World Industries had a return on equity of 41.44% and a net margin of 13.54%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. equities research analysts expect that Armstrong World Industries will post 3.7 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in shares of Armstrong World Industries by 1.2% during the first quarter. Wells Fargo & Company MN now owns 74,061 shares of the construction company’s stock worth $4,170,000 after buying an additional 888 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Armstrong World Industries by 4.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 25,807 shares of the construction company’s stock valued at $1,563,000 after purchasing an additional 1,028 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Armstrong World Industries by 3.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 45,102 shares of the construction company’s stock valued at $2,731,000 after purchasing an additional 1,344 shares in the last quarter. Balter Liquid Alternatives LLC increased its holdings in shares of Armstrong World Industries by 3.0% in the fourth quarter. Balter Liquid Alternatives LLC now owns 52,038 shares of the construction company’s stock valued at $3,151,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Flinton Capital Management LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $102,000.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.
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