Armstrong World Industries (NYSE:AWI) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued reports about the company. UBS Group upped their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Loop Capital upped their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $148.00.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $151.21 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a twelve month low of $110.68 and a twelve month high of $164.40. The stock’s 50 day moving average is $147.86 and its 200-day moving average is $142.17. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. During the same period in the prior year, the firm earned $1.22 earnings per share. Armstrong World Industries’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.81%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 20.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AWI. Creative Planning grew its stake in Armstrong World Industries by 7.3% in the 3rd quarter. Creative Planning now owns 2,079 shares of the construction company’s stock valued at $273,000 after purchasing an additional 141 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Armstrong World Industries in the 3rd quarter valued at $192,000. Ballentine Partners LLC bought a new position in Armstrong World Industries in the 3rd quarter valued at $227,000. First Trust Direct Indexing L.P. bought a new position in Armstrong World Industries in the 3rd quarter valued at $244,000. Finally, US Bancorp DE grew its stake in Armstrong World Industries by 13.9% in the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares during the period. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.