StockNews.com Downgrades Armstrong World Industries (NYSE:AWI) to Hold

Armstrong World Industries (NYSE:AWI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other research analysts also recently issued reports on the company. Evercore ISI lifted their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Armstrong World Industries currently has a consensus rating of “Hold” and an average target price of $142.60.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded up $7.50 during trading hours on Tuesday, hitting $153.22. The stock had a trading volume of 748,273 shares, compared to its average volume of 228,963. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11. Armstrong World Industries has a 1-year low of $110.68 and a 1-year high of $164.40. The stock’s fifty day moving average is $147.51 and its two-hundred day moving average is $142.04.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analysts’ expectations of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 EPS. As a group, analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC increased its position in shares of Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock worth $64,678,000 after acquiring an additional 67,798 shares during the last quarter. Quest Partners LLC grew its stake in Armstrong World Industries by 32.9% during the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company’s stock valued at $2,625,000 after purchasing an additional 4,945 shares in the last quarter. Geode Capital Management LLC increased its holdings in Armstrong World Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company’s stock worth $111,954,000 after purchasing an additional 34,028 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Armstrong World Industries by 89.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company’s stock worth $1,447,000 after purchasing an additional 5,191 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Armstrong World Industries in the 3rd quarter valued at approximately $1,035,000. 98.93% of the stock is owned by institutional investors and hedge funds.

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.