Jefferies Financial Group Increases Armstrong World Industries (NYSE:AWI) Price Target to $122.00

Armstrong World Industries (NYSE:AWI) had its price objective lifted by stock analysts at Jefferies Financial Group from $121.00 to $122.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s target price points to a potential downside of 8.48% from the company’s current price.

AWI has been the subject of several other reports. Truist Financial upped their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upped their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Armstrong World Industries Stock Down 1.6 %

NYSE AWI opened at $133.31 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $126.34 and a two-hundred day moving average of $120.70. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.88 and a beta of 1.14. Armstrong World Industries has a 52 week low of $68.35 and a 52 week high of $136.35.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Armstrong World Industries will post 6.07 earnings per share for the current year.

Institutional Trading of Armstrong World Industries

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Armstrong World Industries in the 1st quarter valued at $27,000. UMB Bank n.a. grew its holdings in shares of Armstrong World Industries by 67.3% during the 1st quarter. UMB Bank n.a. now owns 261 shares of the construction company’s stock worth $32,000 after purchasing an additional 105 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Armstrong World Industries by 33.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after purchasing an additional 125 shares during the period. Covestor Ltd grew its holdings in shares of Armstrong World Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 596 shares of the construction company’s stock worth $74,000 after purchasing an additional 101 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Armstrong World Industries by 25.3% during the 1st quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after purchasing an additional 125 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.