Armstrong World Industries (NYSE:AWI) Given New $175.00 Price Target at Truist Financial

Armstrong World Industries (NYSE:AWI) had its price target increased by Truist Financial from $162.00 to $175.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts have also recently issued reports about the company. Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group boosted their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday. 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 note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.00.

Armstrong World Industries Stock Performance

NYSE AWI opened at $151.21 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries has a 1 year low of $110.68 and a 1 year high of $164.40. The stock has a market capitalization of $6.59 billion, a PE ratio of 26.67, a P/E/G ratio of 1.60 and a beta of 1.19. The company’s 50 day simple moving average is $147.86 and its two-hundred day simple moving average is $142.17.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The company had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. During the same period last year, the firm posted $1.22 EPS. Armstrong World Industries’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.308 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.23 dividend on an annualized basis and a yield of 0.81%. Armstrong World Industries’s payout ratio is 20.40%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new stake in shares of Armstrong World Industries during the 4th quarter valued at $338,000. Public Employees Retirement System of Ohio purchased a new position in shares of Armstrong World Industries during the 4th quarter valued at approximately $2,326,000. Burgundy Asset Management Ltd. boosted its stake in shares of Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after acquiring an additional 19,787 shares in the last quarter. Taylor Hoffman Capital Management LLC increased its position in shares of Armstrong World Industries by 0.7% in the fourth quarter. Taylor Hoffman Capital Management LLC now owns 43,677 shares of the construction company’s stock valued at $6,173,000 after buying an additional 293 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $223,000. 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.