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

Armstrong World Industries (NYSE:AWI) had its price objective upped by equities research analysts at Truist Financial from $162.00 to $175.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 14.05% from the company’s current price.

A number of other analysts also recently weighed in on AWI. Loop Capital increased their price target on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, StockNews.com cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Stock Performance

Shares of AWI stock opened at $153.44 on Thursday. The stock has a market capitalization of $6.69 billion, a PE ratio of 27.06, a PEG ratio of 1.60 and a beta of 1.19. The business’s 50 day simple moving average is $148.07 and its 200 day simple moving average is $142.41. 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 one year low of $110.68 and a one year high of $164.40.

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

Institutional Investors Weigh In On Armstrong World Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors LLC grew its position in Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after purchasing an additional 67,798 shares during the period. Quest Partners LLC grew its holdings in shares of Armstrong World Industries by 32.9% during the third quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after buying an additional 4,945 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Armstrong World Industries by 4.2% during the third quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after acquiring an additional 34,028 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Armstrong World Industries by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 5,191 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Armstrong World Industries in the 3rd quarter valued at about $1,035,000. 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.