Armstrong World Industries (NYSE:AWI) Price Target Raised to $140.00

Armstrong World Industries (NYSE:AWI) had its target price boosted by Evercore ISI from $127.00 to $140.00 in a report published on Wednesday, Benzinga reports. They currently have an in-line rating on the construction company’s stock.

AWI has been the topic of a number of other reports. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial upped their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their price target on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Jefferies Financial Group increased their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Trading Up 0.7 %

Shares of NYSE AWI opened at $140.59 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.19 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a one year low of $77.73 and a one year high of $143.07. The business has a 50-day moving average price of $131.91 and a two-hundred day moving average price of $122.69. The firm has a market capitalization of $6.13 billion, a PE ratio of 24.80, a PEG ratio of 1.95 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. As a group, analysts predict that Armstrong World Industries will post 6.19 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 21st. Investors of record on Thursday, November 7th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.75%.

Institutional Investors Weigh In On Armstrong World Industries

A number of large investors have recently added to or reduced their stakes in AWI. Burgundy Asset Management Ltd. lifted its stake in shares of Armstrong World Industries by 1.5% in the second quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after buying an additional 17,075 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in Armstrong World Industries by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock worth $82,168,000 after acquiring an additional 14,450 shares during the period. Los Angeles Capital Management LLC lifted its position in Armstrong World Industries by 46.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after acquiring an additional 145,133 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 35.0% during the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after acquiring an additional 110,111 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Armstrong World Industries by 27.8% in the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after purchasing an additional 67,954 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

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.