Armstrong World Industries (NYSE:AWI) PT Raised to $136.00 at UBS Group

Armstrong World Industries (NYSE:AWI) had its price target lifted by equities researchers at UBS Group from $122.00 to $136.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. UBS Group’s price target would indicate a potential upside of 2.64% from the stock’s previous close.

A number of other brokerages have also issued reports on AWI. Evercore ISI raised their target price on Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. Truist Financial lifted their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.75.

Armstrong World Industries Stock Up 0.2 %

Shares of AWI traded up $0.33 during midday trading on Wednesday, reaching $132.50. 63,539 shares of the stock were exchanged, compared to its average volume of 343,350. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. Armstrong World Industries has a 52 week low of $68.35 and a 52 week high of $134.90. The company’s 50 day moving average is $117.07 and its two-hundred day moving average is $115.21. The company has a market capitalization of $5.80 billion, a P/E ratio of 24.86, a PEG ratio of 1.97 and a beta of 1.14.

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

Institutional Investors Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of 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 in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Armstrong World Industries by 213.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,676 shares of the construction company’s stock valued at $1,096,000 after acquiring an additional 6,585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Armstrong World Industries by 16.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,120 shares of the construction company’s stock worth $1,146,000 after buying an additional 1,466 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after acquiring an additional 89 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Armstrong World Industries by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock valued at $2,491,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

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.