Armstrong World Industries (NYSE:AWI – Free Report) had its price objective lowered by Truist Financial from $230.00 to $210.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.
Several other analysts have also commented on the stock. DA Davidson set a $200.00 price target on shares of Armstrong World Industries in a research report on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a research note on Wednesday, July 29th. The Goldman Sachs Group restated a “buy” rating and issued a $225.00 target price on shares of Armstrong World Industries in a research note on Wednesday. Weiss Ratings raised shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Finally, UBS Group set a $210.00 price target on Armstrong World Industries in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.12.
View Our Latest Analysis on AWI
Armstrong World Industries Trading Up 0.3%
AWI opened at $166.42 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.06 and a debt-to-equity ratio of 0.55. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.64 and a beta of 1.16. Armstrong World Industries has a 12 month low of $150.28 and a 12 month high of $206.04. The stock has a fifty day moving average price of $166.29 and a 200-day moving average price of $169.85.
Armstrong World Industries (NYSE:AWI – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The construction company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.13). Armstrong World Industries had a net margin of 18.38% and a return on equity of 38.06%. The company had revenue of $475.80 million for the quarter, compared to the consensus estimate of $472.62 million. During the same period in the previous year, the business earned $2.05 EPS. Armstrong World Industries’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Armstrong World Industries will post 8.32 earnings per share for the current fiscal year.
Armstrong World Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.3730 per share. This represents a $1.49 annualized dividend and a dividend yield of 0.9%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date is Thursday, November 5th. Armstrong World Industries’s dividend payout ratio is currently 18.16%.
Armstrong World Industries declared that its Board of Directors has approved a stock buyback plan on Tuesday, July 21st that authorizes the company to repurchase $800 million in shares. This repurchase authorization authorizes the construction company to purchase up to 12.3% of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Institutional Trading of Armstrong World Industries
A number of institutional investors have recently bought and sold shares of AWI. Western Wealth Management LLC acquired a new position in Armstrong World Industries during the 1st quarter valued at approximately $38,000. Root Financial Partners LLC lifted its stake in shares of Armstrong World Industries by 84.8% during the first quarter. Root Financial Partners LLC now owns 268 shares of the construction company’s stock worth $44,000 after buying an additional 123 shares during the period. OP Asset Management Ltd acquired a new stake in shares of Armstrong World Industries during the first quarter worth $45,000. Global Retirement Partners LLC purchased a new stake in shares of Armstrong World Industries during the second quarter valued at $64,000. Finally, Covestor Ltd grew its holdings in shares of Armstrong World Industries by 13.2% during the third quarter. Covestor Ltd now owns 531 shares of the construction company’s stock valued at $86,000 after buying an additional 62 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.
The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.
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