Armstrong World Industries Inc (NYSE:AWI) shares reached a new 52-week high during trading on Thursday . The company traded as high as $65.50 and last traded at $65.20, with a volume of 8288 shares trading hands. The stock had previously closed at $65.00.
AWI has been the topic of a number of analyst reports. Zacks Investment Research raised Armstrong World Industries from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Wednesday, May 16th. ValuEngine raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Goldman Sachs Group raised Armstrong World Industries from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Armstrong World Industries currently has a consensus rating of “Hold” and an average price target of $62.75.
The company has a market capitalization of $3.35 billion, a PE ratio of 21.61, a P/E/G ratio of 1.01 and a beta of 1.68. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.44 and a quick ratio of 2.20.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Monday, April 30th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02). The firm had revenue of $227.30 million during 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% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. equities analysts anticipate that Armstrong World Industries Inc will post 3.71 earnings per share for the current fiscal year.
In other Armstrong World Industries news, SVP David S. Cookson sold 27,336 shares of the company’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $63.00, for a total transaction of $1,722,168.00. Following the completion of the sale, the senior vice president now owns 33,281 shares in the company, valued at $2,096,703. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.94% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Flinton Capital Management LLC purchased a new position in Armstrong World Industries in the 1st quarter worth $102,000. Riverhead Capital Management LLC purchased a new position in Armstrong World Industries in the 1st quarter worth $113,000. Mount Yale Investment Advisors LLC purchased a new position in Armstrong World Industries in the 1st quarter worth $137,000. Meadow Creek Investment Management LLC purchased a new position in Armstrong World Industries in the 1st quarter worth $140,000. Finally, Captrust Financial Advisors purchased a new position in Armstrong World Industries in the 4th quarter worth $147,000.
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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