A number of other equities research analysts also recently weighed in on the stock. Loop Capital boosted their price objective on shares of Armstrong World Industries from $75.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, July 26th. TheStreet raised shares of Armstrong World Industries from a “c+” rating to a “b-” rating in a research report on Friday, August 4th. Truist Financial boosted their price objective on shares of Armstrong World Industries from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, UBS Group boosted their price objective on shares of Armstrong World Industries from $69.00 to $75.00 and gave the company a “sell” rating in a research report on Tuesday, July 25th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.75.
Armstrong World Industries Stock Up 0.4 %
Armstrong World Industries (NYSE:AWI – Get Free Report) last issued its earnings results on Tuesday, October 24th. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. The business had revenue of $347.30 million for the quarter, compared to analyst estimates of $330.42 million. Armstrong World Industries had a net margin of 17.54% and a return on equity of 41.76%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 EPS. On average, analysts anticipate that Armstrong World Industries will post 5.13 EPS for the current year.
Institutional Investors Weigh In On Armstrong World Industries
A number of institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al boosted its stake in shares of Armstrong World Industries by 35.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 99,666 shares of the construction company’s stock valued at $7,176,000 after buying an additional 26,047 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Armstrong World Industries during the 3rd quarter valued at $426,000. Royal Bank of Canada raised its holdings in shares of Armstrong World Industries by 13.8% during the 3rd quarter. Royal Bank of Canada now owns 128,872 shares of the construction company’s stock valued at $9,279,000 after purchasing an additional 15,600 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Armstrong World Industries by 38.0% during the 3rd quarter. Sei Investments Co. now owns 19,343 shares of the construction company’s stock valued at $1,393,000 after purchasing an additional 5,325 shares in the last quarter. Finally, London Co. of Virginia raised its holdings in shares of Armstrong World Industries by 1.7% during the 3rd quarter. London Co. of Virginia now owns 2,622,900 shares of the construction company’s stock valued at $188,849,000 after purchasing an additional 45,095 shares in 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, designs, manufactures, and sells ceiling and wall systems in the United States, Canada, and Latin America. It operates through Mineral Fiber and Architectural Specialties segments. The company offers suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems, as well as wood, wood fiber, glass-reinforced-gypsum, and felt ceiling and wall products; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and facade and partition products.
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