Armstrong World Industries (NYSE:AWI) PT Raised to $127.00 at Evercore ISI

Armstrong World Industries (NYSE:AWI) had its price objective upped by analysts at Evercore ISI from $119.00 to $127.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s target price indicates a potential downside of 4.37% from the stock’s previous close.

Several other brokerages have also weighed in on AWI. UBS Group upped their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.75.

Armstrong World Industries Price Performance

AWI traded up $0.64 on Wednesday, hitting $132.81. 211,222 shares of the company were exchanged, compared to its average volume of 344,362. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.79. The business’s fifty day moving average is $117.07 and its 200 day moving average is $115.21. Armstrong World Industries has a fifty-two week low of $68.35 and a fifty-two week high of $134.90. The firm has a market capitalization of $5.81 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.07. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same period in the prior year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Armstrong World Industries will post 5.89 EPS for the current year.

Hedge Funds Weigh In On Armstrong World Industries

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its stake in Armstrong World Industries by 17.3% during the second quarter. Van ECK Associates Corp now owns 21,102 shares of the construction company’s stock worth $2,390,000 after purchasing an additional 3,115 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Armstrong World Industries by 11.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 140,802 shares of the construction company’s stock worth $15,945,000 after purchasing an additional 14,859 shares during the period. Crossmark Global Holdings Inc. raised its stake in Armstrong World Industries by 213.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,676 shares of the construction company’s stock worth $1,096,000 after purchasing an additional 6,585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Armstrong World Industries by 16.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,120 shares of the construction company’s stock worth $1,146,000 after purchasing an additional 1,466 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Armstrong World Industries by 41.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock worth $35,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.