Evercore ISI cut shares of Armstrong World Industries (NYSE:AWI) from an in-line rating to an underperform rating in a report released on Wednesday, BenzingaRatingsTable reports. They currently have $73.00 price objective on the construction company’s stock.
A number of other brokerages have also recently commented on AWI. SunTrust Banks decreased their price objective on Armstrong World Industries from $100.00 to $95.00 in a research note on Tuesday, April 28th. Credit Suisse Group started coverage on Armstrong World Industries in a research note on Wednesday, May 27th. They issued an outperform rating and a $88.00 target price for the company. BNP Paribas raised Armstrong World Industries from a neutral rating to an outperform rating and set a $86.50 target price for the company in a research note on Tuesday, June 30th. Nomura Securities boosted their target price on Armstrong World Industries from $90.00 to $105.00 and gave the company a buy rating in a research note on Friday, April 17th. Finally, TheStreet cut Armstrong World Industries from a b rating to a c rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Armstrong World Industries has a consensus rating of Hold and a consensus target price of $88.17.
Shares of Armstrong World Industries stock opened at $71.24 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.04 and a debt-to-equity ratio of 1.51. Armstrong World Industries has a 12 month low of $62.03 and a 12 month high of $111.46. The business has a fifty day simple moving average of $76.49 and a 200 day simple moving average of $84.60. The stock has a market cap of $3.41 billion, a PE ratio of -58.39, a price-to-earnings-growth ratio of 9.78 and a beta of 1.20.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 28th. The construction company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.16). Armstrong World Industries had a positive return on equity of 56.59% and a negative net margin of 5.64%. The company had revenue of $202.50 million for the quarter, compared to analyst estimates of $221.05 million. During the same period last year, the firm earned $1.27 earnings per share. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis. Analysts expect that Armstrong World Industries will post 3.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Armstrong World Industries’s dividend payout ratio is currently 16.74%.
Hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Armstrong World Industries during the first quarter worth about $26,000. Rockefeller Capital Management L.P. boosted its position in shares of Armstrong World Industries by 113.5% during the first quarter. Rockefeller Capital Management L.P. now owns 363 shares of the construction company’s stock worth $29,000 after buying an additional 193 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Armstrong World Industries by 1,761.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 484 shares of the construction company’s stock worth $38,000 after buying an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Armstrong World Industries during the first quarter worth about $91,000. Finally, US Bancorp DE boosted its position in shares of Armstrong World Industries by 24.2% during the first quarter. US Bancorp DE now owns 1,515 shares of the construction company’s stock worth $120,000 after buying an additional 295 shares during the period. 99.58% of the stock is owned by institutional investors.
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 in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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