Truist Financial Forecasts Strong Price Appreciation for Armstrong World Industries (NYSE:AWI) Stock

Armstrong World Industries (NYSE:AWI) had its price objective lifted by Truist Financial from $148.00 to $162.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other equities analysts have also commented on AWI. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped their price target on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI upped their price target 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Up 0.7 %

Shares of NYSE:AWI opened at $140.59 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Armstrong World Industries has a 52-week low of $77.73 and a 52-week high of $143.07. The stock’s fifty day simple moving average is $131.91 and its 200-day simple moving average is $122.69. The company has a market capitalization of $6.13 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.95 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $386.60 million during the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, equities research analysts forecast that Armstrong World Industries will post 6.19 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.308 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. Armstrong World Industries’s dividend payout ratio is presently 19.75%.

Institutional Investors Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently modified their holdings of AWI. Jupiter Asset Management Ltd. boosted its position in shares of Armstrong World Industries by 1,369.3% in the second quarter. Jupiter Asset Management Ltd. now owns 246,129 shares of the construction company’s stock worth $27,872,000 after buying an additional 229,378 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Armstrong World Industries by 46.0% in the second quarter. Los Angeles Capital Management LLC now owns 460,568 shares of the construction company’s stock valued at $52,155,000 after purchasing an additional 145,133 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Armstrong World Industries by 35.0% in the second quarter. Natixis Advisors LLC now owns 424,315 shares of the construction company’s stock valued at $48,049,000 after purchasing an additional 110,111 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Armstrong World Industries by 171.0% in the second quarter. Squarepoint Ops LLC now owns 125,951 shares of the construction company’s stock valued at $14,263,000 after purchasing an additional 79,475 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Armstrong World Industries by 27.8% in the second quarter. Envestnet Asset Management Inc. now owns 312,475 shares of the construction company’s stock valued at $35,385,000 after purchasing an additional 67,954 shares during the last quarter. 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.