Armstrong World Industries (NYSE:AWI) Given New $122.00 Price Target at Jefferies Financial Group

Armstrong World Industries (NYSE:AWI) had its price target raised by Jefferies Financial Group from $121.00 to $122.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the construction company’s stock.

AWI has been the subject of several other research reports. StockNews.com raised Armstrong World Industries from a hold rating to a buy rating in a research note on Tuesday, August 20th. UBS Group increased their price objective on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an in-line rating in a research note on Wednesday, July 31st. Finally, Truist Financial increased their price target on Armstrong World Industries from $131.00 to $148.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Armstrong World Industries currently has a consensus rating of Moderate Buy and a consensus price target of $133.00.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $135.36 on Wednesday. The firm has a market cap of $5.92 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Armstrong World Industries has a one year low of $68.35 and a one year high of $136.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. The stock’s fifty day moving average price is $126.26 and its two-hundred day moving average price is $120.61.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. During the same period in the previous year, the business earned $1.38 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts expect that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Hedge Funds Weigh In On Armstrong World Industries

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Armstrong World Industries during the 1st quarter worth about $27,000. UMB Bank n.a. boosted its holdings in shares of Armstrong World Industries by 67.3% during the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after buying an additional 105 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares during the period. CWM LLC lifted its position in shares of Armstrong World Industries by 17.3% during the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after acquiring an additional 95 shares during the period. Finally, Covestor Ltd lifted its position in shares of Armstrong World Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 596 shares of the construction company’s stock valued at $74,000 after acquiring an additional 101 shares during the period. Institutional investors own 98.93% of the company’s stock.

About Armstrong World Industries

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.