Zacks Investment Research upgraded shares of Armstrong World Industries (NYSE:AWI) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $68.00 price target on the construction company’s stock.
According to Zacks, “For 2018, Armstrong World expects that its net sales will grow in the range of 5-7% aided by a modest upturn in volume and AUV improvement. Further, the tax reform will reduce its tax rate from 35% to 25%. Thus, Armstrong World expects EPS to grow in the range of 17-24% in the year. Productivity improvements in plants and focus on restructuring activities will also aid the bottom line. Further, continued sales leverage and capital investments at Tectum will fortify its Architectural Specialty business. Moreover, investment in new products, segment reclassification and strong balance sheet will drive Armstrong World’s growth. Over the past year, the stock has outperformed the industry.”
Several other analysts also recently commented on AWI. Stephens reaffirmed a hold rating and set a $64.00 price objective on shares of Armstrong World Industries in a research report on Thursday, March 1st. JPMorgan Chase & Co. cut Armstrong World Industries from a neutral rating to an underweight rating in a report on Wednesday, March 7th. Nomura set a $65.00 target price on Armstrong World Industries and gave the stock a buy rating in a report on Tuesday, November 21st. SunTrust Banks reiterated a buy rating and issued a $67.00 target price on shares of Armstrong World Industries in a report on Monday, February 26th. Finally, Jefferies Group reiterated a hold rating and issued a $66.00 target price on shares of Armstrong World Industries in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $58.33.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Monday, February 26th. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.16). The company had revenue of $214.30 million for the quarter, compared to analyst estimates of $263.06 million. Armstrong World Industries had a return on equity of 41.95% and a net margin of 12.77%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. research analysts expect that Armstrong World Industries will post 3.59 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Armstrong World Industries by 4.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 25,807 shares of the construction company’s stock worth $1,563,000 after purchasing an additional 1,028 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Armstrong World Industries by 3.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 45,102 shares of the construction company’s stock valued at $2,731,000 after acquiring an additional 1,344 shares in the last quarter. Balter Liquid Alternatives LLC lifted its stake in Armstrong World Industries by 3.0% during the 4th quarter. Balter Liquid Alternatives LLC now owns 52,038 shares of the construction company’s stock valued at $3,151,000 after acquiring an additional 1,510 shares in the last quarter. Legal & General Group Plc lifted its stake in Armstrong World Industries by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 63,868 shares of the construction company’s stock valued at $3,275,000 after acquiring an additional 2,130 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in Armstrong World Industries during the 4th quarter valued at $129,000.
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About Armstrong World Industries
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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