Armstrong World Industries’ (AWI) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Armstrong World Industries (NYSE:AWI) in a research note issued to investors on Friday morning. Jefferies Financial Group currently has a $70.00 target price on the construction company’s stock. Jefferies Financial Group also issued estimates for Armstrong World Industries’ Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $3.77 EPS, Q2 2019 earnings at $1.20 EPS, Q3 2019 earnings at $1.38 EPS, Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.68 EPS and FY2020 earnings at $5.24 EPS.

A number of other research analysts also recently commented on the stock. KeyCorp raised shares of Armstrong World Industries from a sector weight rating to an overweight rating and set a $76.00 target price on the stock in a research report on Friday. Goldman Sachs Group assumed coverage on shares of Armstrong World Industries in a research report on Tuesday, October 2nd. They issued a neutral rating and a $70.00 target price on the stock. Zacks Investment Research downgraded shares of Armstrong World Industries from a buy rating to a hold rating in a research report on Tuesday, September 11th. ValuEngine downgraded shares of Armstrong World Industries from a buy rating to a hold rating in a research report on Wednesday, August 8th. Finally, SunTrust Banks raised their price objective on shares of Armstrong World Industries to $78.00 and gave the stock a buy rating in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Armstrong World Industries presently has an average rating of Hold and a consensus target price of $69.00.

NYSE AWI opened at $66.60 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $3.31 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.00 and a beta of 1.75. Armstrong World Industries has a 12 month low of $49.25 and a 12 month high of $73.45.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 30th. The construction company reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.06). The company had revenue of $260.50 million during the quarter, compared to analysts’ expectations of $252.96 million. Armstrong World Industries had a net margin of 19.46% and a return on equity of 45.95%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. On average, research analysts forecast that Armstrong World Industries will post 3.75 EPS for the current fiscal year.

In other Armstrong World Industries news, insider Valueact Capital Master Fund, sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $70.11, for a total transaction of $2,103,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Holdings L.P. Valueact sold 100,000 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $70.03, for a total transaction of $7,003,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 167,990 shares of company stock worth $11,766,762 over the last three months. 1.94% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of AWI. Sun Life Financial INC purchased a new position in Armstrong World Industries during the 2nd quarter worth $108,000. SG Americas Securities LLC acquired a new stake in shares of Armstrong World Industries in the 2nd quarter worth $183,000. Captrust Financial Advisors lifted its stake in shares of Armstrong World Industries by 157.0% in the 2nd quarter. Captrust Financial Advisors now owns 3,136 shares of the construction company’s stock worth $198,000 after acquiring an additional 1,916 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Armstrong World Industries in the 3rd quarter worth $210,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Armstrong World Industries in the 2nd quarter worth $218,000.

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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