StockNews.com Upgrades Armstrong World Industries (NYSE:AWI) to “Buy”

Armstrong World Industries (NYSE:AWI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other research analysts have also recently issued research reports about the stock. Loop Capital boosted their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI upped their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Price Performance

Shares of NYSE AWI opened at $150.51 on Wednesday. The firm has a market cap of $6.56 billion, a PE ratio of 26.55, a PEG ratio of 1.75 and a beta of 1.18. The firm has a fifty day moving average of $150.26 and a 200 day moving average of $137.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries has a one year low of $96.69 and a one year high of $164.40.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts predict that Armstrong World Industries will post 6.18 EPS for the current fiscal year.

Institutional Trading of Armstrong World Industries

A number of large investors have recently made changes to their positions in AWI. Squarepoint Ops LLC increased its stake in shares of Armstrong World Industries by 171.0% during the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock worth $14,263,000 after buying an additional 79,475 shares during the period. Natixis Advisors LLC increased its stake in shares of Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after buying an additional 67,798 shares during the period. State Street Corp increased its stake in shares of Armstrong World Industries by 3.7% during the third quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock worth $191,119,000 after buying an additional 51,839 shares during the period. Millennium Management LLC increased its stake in shares of Armstrong World Industries by 252.5% during the second quarter. Millennium Management LLC now owns 55,078 shares of the construction company’s stock worth $6,237,000 after buying an additional 39,452 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Armstrong World Industries by 70.7% during the second quarter. Sei Investments Co. now owns 89,196 shares of the construction company’s stock worth $10,101,000 after buying an additional 36,955 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.