Armstrong World Industries (NYSE:AWI) Price Target Increased to $136.00 by Analysts at UBS Group

Armstrong World Industries (NYSE:AWI) had its price target increased by UBS Group from $122.00 to $136.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other brokerages also recently issued reports on AWI. Evercore ISI boosted their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an in-line rating in a research note on Wednesday, May 1st. Truist Financial upped their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Armstrong World Industries presently has a consensus rating of Moderate Buy and a consensus target price of $135.75.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $126.35 on Wednesday. The company’s fifty day moving average is $117.88 and its two-hundred day moving average is $115.73. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries has a 12-month low of $68.35 and a 12-month high of $134.90. The company has a market cap of $5.52 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (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 company had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. During the same period in the previous year, the business earned $1.38 EPS. The company’s revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

Institutional Investors Weigh In On Armstrong World Industries

A number of large investors have recently bought and sold shares of the business. TD Asset Management Inc boosted its holdings in Armstrong World Industries by 253.2% in the second quarter. TD Asset Management Inc now owns 27,900 shares of the construction company’s stock worth $3,159,000 after purchasing an additional 20,000 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Armstrong World Industries in the second quarter worth $1,071,000. Versor Investments LP bought a new stake in Armstrong World Industries in the second quarter worth $491,000. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock worth $48,049,000 after purchasing an additional 110,111 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Armstrong World Industries by 17.3% in the second quarter. Van ECK Associates Corp now owns 21,102 shares of the construction company’s stock worth $2,390,000 after purchasing an additional 3,115 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.