Truist Financial Boosts Armstrong World Industries (NYSE:AWI) Price Target to $175.00

Armstrong World Industries (NYSE:AWI) had its target price raised by equities researchers at Truist Financial from $162.00 to $175.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would suggest a potential upside of 14.05% from the stock’s previous close.

Several other analysts have also issued reports on the company. UBS Group increased their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday. Loop Capital increased their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI raised their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.33.

Armstrong World Industries Price Performance

NYSE:AWI opened at $153.44 on Thursday. Armstrong World Industries has a 52 week low of $110.68 and a 52 week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The firm’s 50-day simple moving average is $148.07 and its 200 day simple moving average is $142.41. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. As a group, sell-side analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AWI. Vanguard Group Inc. increased its holdings in Armstrong World Industries by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,648,141 shares of the construction company’s stock worth $656,922,000 after purchasing an additional 34,579 shares in the last quarter. State Street Corp raised its holdings in Armstrong World Industries by 3.7% in the 3rd quarter. State Street Corp now owns 1,454,150 shares of the construction company’s stock valued at $191,119,000 after buying an additional 51,839 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Armstrong World Industries by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,198,801 shares of the construction company’s stock worth $169,427,000 after buying an additional 19,787 shares during the period. Geode Capital Management LLC grew its holdings in Armstrong World Industries by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 887,358 shares of the construction company’s stock worth $125,444,000 after acquiring an additional 35,738 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Armstrong World Industries by 140.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company’s stock valued at $94,126,000 after acquiring an additional 389,000 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.