Armstrong World Industries (NYSE:AWI) Price Target Raised to $127.00

Armstrong World Industries (NYSE:AWI) had its price objective increased by Evercore ISI from $119.00 to $127.00 in a research report report published on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the construction company’s stock.

Several other equities analysts have also commented on AWI. Truist Financial increased their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a buy rating in a report on Wednesday. UBS Group boosted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a neutral rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of Moderate Buy and a consensus target price of $135.75.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $131.36 on Wednesday. Armstrong World Industries has a one year low of $68.35 and a one year high of $134.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.22. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.97 and a beta of 1.14. The company’s fifty day moving average price is $117.40 and its 200-day moving average price is $115.32.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 EPS. On average, equities research analysts anticipate that Armstrong World Industries will post 5.89 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.85%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after buying an additional 569,824 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Armstrong World Industries by 12.2% in the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after acquiring an additional 517,699 shares in the last quarter. Norges Bank bought a new position in Armstrong World Industries in the 4th quarter worth $42,297,000. Los Angeles Capital Management LLC purchased a new stake in shares of Armstrong World Industries in the 1st quarter worth about $39,183,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Armstrong World Industries by 5,304.3% during the 4th quarter. Principal Financial Group Inc. now owns 228,007 shares of the construction company’s stock valued at $22,418,000 after purchasing an additional 223,788 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

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.