Evercore ISI Increases Armstrong World Industries (NYSE:AWI) Price Target to $127.00

Armstrong World Industries (NYSE:AWI) had its target price hoisted by Evercore ISI from $119.00 to $127.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the construction company’s stock.

Several other analysts also recently weighed in on AWI. Truist Financial upped their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a buy rating in a research note on Wednesday. UBS Group increased their target price on Armstrong World Industries from $122.00 to $136.00 and gave the company a neutral rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Armstrong World Industries currently has a consensus rating of Moderate Buy and a consensus price target of $135.75.

Armstrong World Industries Stock Performance

Armstrong World Industries stock opened at $126.35 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $5.52 billion, a P/E ratio of 23.75, a PEG ratio of 1.83 and a beta of 1.14. The stock’s 50 day moving average is $117.88 and its 200 day moving average is $115.73. Armstrong World Industries has a twelve month low of $68.35 and a twelve month high of $134.90.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.07. The company had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 EPS. On average, equities research analysts predict that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.89%. Armstrong World Industries’s payout ratio is 21.05%.

Hedge Funds Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors lifted its holdings in shares of Armstrong World Industries by 1.3% during the 4th quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after buying an additional 63,618 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Armstrong World Industries by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after buying an additional 517,699 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock worth $155,991,000 after purchasing an additional 569,824 shares during the period. Cooke & Bieler LP raised its holdings in Armstrong World Industries by 10.2% in the 4th quarter. Cooke & Bieler LP now owns 1,316,653 shares of the construction company’s stock worth $129,453,000 after purchasing an additional 121,586 shares during the period. Finally, Burgundy Asset Management Ltd. raised its holdings in Armstrong World Industries by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,134,367 shares of the construction company’s stock worth $140,911,000 after purchasing an additional 13,380 shares during the period. 98.93% of the stock is owned by institutional investors.

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.