Armstrong World Industries Inc (NYSE:AWI) Sees Large Growth in Short Interest

Armstrong World Industries Inc (NYSE:AWI) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,360,000 shares, an increase of 32.0% from the June 15th total of 1,030,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 458,300 shares, the days-to-cover ratio is currently 3.0 days.

Shares of AWI traded down $1.03 during trading hours on Tuesday, hitting $76.85. The stock had a trading volume of 3,063 shares, compared to its average volume of 410,976. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.63 and a current ratio of 2.03. The firm has a market cap of $3.66 billion, a P/E ratio of -64.97, a P/E/G ratio of 5.11 and a beta of 1.20. The company’s fifty day simple moving average is $75.66 and its 200 day simple moving average is $86.55. Armstrong World Industries has a 12-month low of $62.03 and a 12-month high of $111.46.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, April 27th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $248.70 million during the quarter, compared to analysts’ expectations of $250.69 million. Armstrong World Industries had a positive return on equity of 71.34% and a negative net margin of 4.86%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. As a group, sell-side analysts predict that Armstrong World Industries will post 4.2 earnings per share for the current fiscal year.

AWI has been the topic of a number of analyst reports. Nomura Securities increased their target price on Armstrong World Industries from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 17th. TheStreet cut Armstrong World Industries from a “b” rating to a “c” rating in a report on Tuesday, April 28th. Loop Capital raised Armstrong World Industries from a “sell” rating to a “hold” rating and reduced their price target for the stock from $95.00 to $83.00 in a research note on Tuesday, March 17th. Exane BNP Paribas raised Armstrong World Industries from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 30th. Finally, SunTrust Banks reduced their price target on Armstrong World Industries from $100.00 to $95.00 in a research note on Tuesday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $97.95.

Several institutional investors and hedge funds have recently modified their holdings of AWI. Victory Capital Management Inc. raised its position in shares of Armstrong World Industries by 5.0% in the 4th quarter. Victory Capital Management Inc. now owns 498,151 shares of the construction company’s stock worth $46,811,000 after buying an additional 23,745 shares during the period. Envestnet Asset Management Inc. raised its position in Armstrong World Industries by 10.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,019 shares of the construction company’s stock valued at $3,291,000 after purchasing an additional 3,358 shares during the period. Schroder Investment Management Group purchased a new position in Armstrong World Industries in the fourth quarter valued at about $4,665,000. Atria Investments LLC raised its position in Armstrong World Industries by 29.4% in the fourth quarter. Atria Investments LLC now owns 2,884 shares of the construction company’s stock valued at $271,000 after purchasing an additional 656 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new position in Armstrong World Industries in the fourth quarter valued at about $1,058,000. 99.64% of the stock is currently owned by institutional investors and hedge funds.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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