Armstrong World Industries, Inc. (NYSE:AWI) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Armstrong World Industries, Inc. (NYSE:AWI) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $203.12.

A number of equities research analysts have commented on the company. Jefferies Financial Group reissued a “hold” rating and issued a $190.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. DA Davidson set a $200.00 target price on Armstrong World Industries in a report on Wednesday, October 28th. Truist Financial reduced their price target on shares of Armstrong World Industries from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. JPMorgan Chase & Co. cut their price objective on Armstrong World Industries from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 target price on shares of Armstrong World Industries in a report on Wednesday, October 28th.

Armstrong World Industries Stock Performance

NYSE AWI opened at $171.08 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.06 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $166.13 and its two-hundred day moving average is $169.70. Armstrong World Industries has a 12-month low of $150.28 and a 12-month high of $206.04. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.54 and a beta of 1.16.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 27th. The construction company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.13). Armstrong World Industries had a net margin of 18.38% and a return on equity of 38.06%. The business had revenue of $475.80 million during the quarter, compared to analyst estimates of $472.62 million. During the same period in the prior year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that Armstrong World Industries will post 8.32 EPS for the current year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a $0.3730 dividend. This represents a $1.49 annualized dividend and a dividend yield of 0.9%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date is Thursday, November 5th. Armstrong World Industries’s payout ratio is presently 18.16%.

Armstrong World Industries declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 21st that allows the company to buy back $800 million in shares. This repurchase authorization allows the construction company to reacquire up to 12.3% of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Armstrong World Industries

A number of institutional investors have recently made changes to their positions in AWI. MQS Management LLC grew its stake in shares of Armstrong World Industries by 4.4% in the 1st quarter. MQS Management LLC now owns 1,474 shares of the construction company’s stock worth $243,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd raised its position in shares of Armstrong World Industries by 13.2% during the third quarter. Covestor Ltd now owns 531 shares of the construction company’s stock worth $86,000 after purchasing an additional 62 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Armstrong World Industries by 7.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,352 shares of the construction company’s stock worth $258,000 after purchasing an additional 90 shares during the period. Howe & Rusling Inc. lifted its holdings in shares of Armstrong World Industries by 7.1% during the first quarter. Howe & Rusling Inc. now owns 1,768 shares of the construction company’s stock valued at $291,000 after purchasing an additional 117 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Armstrong World Industries by 8.4% during the 1st quarter. HB Wealth Management LLC now owns 1,513 shares of the construction company’s stock worth $249,000 after buying an additional 117 shares during the period. 98.93% of the stock is currently owned by institutional investors.

About Armstrong World Industries

Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.

The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.