A number of other equities analysts have also recently issued reports on AWI. Zacks Investment Research cut Armstrong World Industries from a buy rating to a hold rating in a report on Tuesday, September 27th. Stephens assumed coverage on Armstrong World Industries in a report on Friday, July 8th. They set an equal weight rating for the company. Goldman Sachs Group Inc. cut Armstrong World Industries from a neutral rating to a sell rating and dropped their price objective for the company from $38.00 to $34.00 in a report on Monday, July 11th. Royal Bank Of Canada boosted their price objective on Armstrong World Industries from $45.00 to $47.00 and gave the company a sector perform rating in a report on Monday, August 1st. Finally, KeyCorp upgraded Armstrong World Industries from a sector weight rating to an overweight rating and set a $50.00 price objective for the company in a report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Armstrong World Industries has an average rating of Hold and a consensus price target of $46.25.
Armstrong World Industries (NYSE:AWI) opened at 41.94 on Tuesday. The company has a market capitalization of $2.33 billion, a P/E ratio of 93.41 and a beta of 1.50. Armstrong World Industries has a one year low of $35.92 and a one year high of $52.33. The stock’s 50 day moving average price is $42.27 and its 200 day moving average price is $41.67.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Friday, July 29th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The firm earned $314.30 million during the quarter, compared to analysts’ expectations of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The company’s quarterly revenue was down 50.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. Equities analysts anticipate that Armstrong World Industries will post $2.25 EPS for the current fiscal year.
In other news, VP Stephen F. Mcnamara sold 2,274 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $45.00, for a total value of $102,330.00. Following the completion of the transaction, the vice president now directly owns 5,242 shares of the company’s stock, valued at approximately $235,890. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AWI. Independent Portfolio Consultants Inc. bought a new position in Armstrong World Industries during the third quarter valued at approximately $152,000. Tocqueville Asset Management L.P. acquired a new position in shares of Armstrong World Industries during the second quarter valued at about $223,000. Teacher Retirement System of Texas raised its position in shares of Armstrong World Industries by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 5,830 shares of the company’s stock valued at $228,000 after buying an additional 1,074 shares in the last quarter. Amalgamated Bank raised its position in shares of Armstrong World Industries by 21.9% in the second quarter. Amalgamated Bank now owns 5,610 shares of the company’s stock valued at $250,000 after buying an additional 1,006 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Armstrong World Industries during the first quarter valued at about $260,000. 99.90% of the stock is owned by hedge funds and other institutional investors.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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