Loop Capital Issues Positive Forecast for Armstrong World Industries (NYSE:AWI) Stock Price

Armstrong World Industries (NYSE:AWI) had its price target boosted by Loop Capital from $135.00 to $145.00 in a research note released on Wednesday morning, Benzinga reports. Loop Capital currently has a hold rating on the construction company’s stock.

Several other research analysts also recently weighed in on AWI. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial lifted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, UBS Group increased 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Up 0.2 %

AWI stock opened at $140.33 on Wednesday. The firm’s 50-day simple moving average is $131.30 and its 200 day simple moving average is $122.40. Armstrong World Industries has a fifty-two week low of $74.37 and a fifty-two week high of $143.07. The stock has a market cap of $6.14 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. 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 (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. As a group, sell-side analysts predict that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.308 dividend. The ex-dividend date is Thursday, November 7th. 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. Armstrong World Industries’s dividend payout ratio is 23.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AWI. Jupiter Asset Management Ltd. bought a new stake in shares of Armstrong World Industries in the first quarter valued at about $2,081,000. Assenagon Asset Management S.A. increased its holdings in Armstrong World Industries by 107.3% during the second quarter. Assenagon Asset Management S.A. now owns 64,316 shares of the construction company’s stock worth $7,283,000 after buying an additional 33,290 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Armstrong World Industries during the 1st quarter worth about $3,097,000. Duality Advisers LP acquired a new stake in Armstrong World Industries in the 1st quarter valued at about $1,150,000. Finally, Sei Investments Co. lifted its position in shares of Armstrong World Industries by 185.3% in the first quarter. Sei Investments Co. now owns 52,241 shares of the construction company’s stock valued at $6,489,000 after buying an additional 33,927 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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.