Armstrong World Industries (NYSE:AWI) Stock Price Expected to Rise, Truist Financial Analyst Says

Armstrong World Industries (NYSE:AWI) had its price target lifted by equities research analysts at Truist Financial from $148.00 to $162.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would indicate a potential upside of 13.91% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group raised their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Armstrong World Industries Stock Performance

AWI traded up $2.22 during trading on Wednesday, hitting $142.22. 72,995 shares of the stock were exchanged, compared to its average volume of 311,061. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. Armstrong World Industries has a 1-year low of $74.37 and a 1-year high of $143.07. The stock has a fifty day moving average price of $130.96 and a two-hundred day moving average price of $122.28. The firm has a market capitalization of $6.22 billion, a P/E ratio of 26.76, a PEG ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to the consensus estimate of $386.69 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. Armstrong World Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, sell-side analysts predict that Armstrong World Industries will post 6.07 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. boosted its position in shares of Armstrong World Industries by 1.5% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,151,442 shares of the construction company’s stock worth $130,389,000 after purchasing an additional 17,075 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Armstrong World Industries by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 725,613 shares of the construction company’s stock valued at $82,168,000 after purchasing an additional 14,450 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Armstrong World Industries by 46.0% during the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock worth $52,155,000 after buying an additional 145,133 shares in the last quarter. Natixis Advisors LLC grew its position 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 worth $48,049,000 after buying an additional 110,111 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in 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 buying an additional 67,954 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.