Evercore ISI Issues Positive Forecast for Armstrong World Industries (NYSE:AWI) Stock Price

Armstrong World Industries (NYSE:AWI) had its price target boosted by Evercore ISI from $127.00 to $140.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

AWI has been the topic of several other research reports. UBS Group lifted their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group increased 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 note on Wednesday, October 9th. Finally, Truist Financial lifted their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Price Performance

NYSE:AWI opened at $140.59 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.19. Armstrong World Industries has a one year low of $77.73 and a one year high of $143.07. The company has a fifty day moving average price of $131.91 and a 200 day moving average price of $122.69. The stock has a market cap of $6.13 billion, a P/E ratio of 24.80, a PEG ratio of 1.95 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. During the same quarter in the prior year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts anticipate that Armstrong World Industries will post 6.19 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.75%.

Institutional Investors Weigh In On Armstrong World Industries

Several large investors have recently made changes to their positions in AWI. Transcendent Capital Group LLC bought a new position in Armstrong World Industries during the 3rd quarter valued at about $26,000. Covestor Ltd raised its stake in shares of Armstrong World Industries by 315.5% in the third quarter. Covestor Ltd now owns 1,205 shares of the construction company’s stock valued at $158,000 after acquiring an additional 915 shares during the last quarter. Atria Investments Inc raised its stake in shares of Armstrong World Industries by 2.7% in the third quarter. Atria Investments Inc now owns 10,714 shares of the construction company’s stock valued at $1,408,000 after acquiring an additional 284 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Armstrong World Industries by 3.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,033 shares of the construction company’s stock worth $399,000 after acquiring an additional 104 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in Armstrong World Industries during the 3rd quarter worth approximately $964,000. 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.