ValuEngine Downgrades Armstrong World Industries (NYSE:AWI) to Hold

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ValuEngine downgraded shares of Armstrong World Industries (NYSE:AWI) from a buy rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.

Several other equities research analysts also recently weighed in on the company. Zelman & Associates downgraded Armstrong World Industries from a hold rating to a sell rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Armstrong World Industries from a buy rating to a hold rating in a research report on Monday, April 22nd. Nomura upped their target price on Armstrong World Industries from $78.00 to $92.00 and gave the stock a neutral rating in a research report on Thursday, May 9th. Deutsche Bank reaffirmed a buy rating and issued a $107.00 target price on shares of Armstrong World Industries in a research report on Monday, June 24th. Finally, Bank of America upped their target price on Armstrong World Industries from $108.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $91.45.

Shares of NYSE AWI opened at $95.80 on Thursday. Armstrong World Industries has a 1-year low of $54.34 and a 1-year high of $104.50. The stock has a 50-day moving average of $97.91. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.20 and a quick ratio of 1.15. The stock has a market capitalization of $4.66 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.63.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, July 29th. The construction company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.10. Armstrong World Industries had a return on equity of 77.10% and a net margin of 20.17%. The company had revenue of $272.00 million during the quarter, compared to the consensus estimate of $278.75 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Armstrong World Industries will post 4.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, August 7th. Armstrong World Industries’s payout ratio is currently 19.13%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Icon Advisers Inc. Co. boosted its stake in Armstrong World Industries by 196.8% during the 2nd quarter. Icon Advisers Inc. Co. now owns 37,400 shares of the construction company’s stock valued at $3,635,000 after purchasing an additional 24,800 shares in the last quarter. Swiss National Bank boosted its stake in Armstrong World Industries by 11.6% during the 2nd quarter. Swiss National Bank now owns 85,700 shares of the construction company’s stock valued at $8,330,000 after purchasing an additional 8,900 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in Armstrong World Industries during the 2nd quarter valued at $26,656,000. DekaBank Deutsche Girozentrale boosted its stake in Armstrong World Industries by 27.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 98,959 shares of the construction company’s stock valued at $9,699,000 after purchasing an additional 21,111 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in Armstrong World Industries during the 2nd quarter valued at $1,161,000.

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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Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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