Armstrong World Industries (NYSE:AWI) Price Target Increased to $119.00 by Analysts at Evercore ISI

Armstrong World Industries (NYSE:AWI) had its price target upped by Evercore ISI from $117.00 to $119.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group raised Armstrong World Industries from a sell rating to a neutral rating and lifted their price objective for the stock from $75.00 to $103.00 in a research note on Thursday, January 4th. The Goldman Sachs Group lifted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Truist Financial lifted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, StockNews.com raised Armstrong World Industries from a hold rating to a buy rating in a research note on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $110.17.

Armstrong World Industries Stock Down 0.7 %

NYSE AWI opened at $114.05 on Wednesday. The stock has a fifty day moving average of $120.32 and a 200-day moving average of $101.60. The stock has a market capitalization of $5.00 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.82 and a beta of 1.12. Armstrong World Industries has a 52 week low of $62.03 and a 52 week high of $125.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.61.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, April 30th. The construction company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.23 by $0.15. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. On average, equities research analysts forecast that Armstrong World Industries will post 5.74 EPS for the current year.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. Armstrong World Industries’s payout ratio is 22.40%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors grew its stake in Armstrong World Industries by 1.3% in the fourth quarter. Capital International Investors now owns 4,999,503 shares of the construction company’s stock valued at $491,551,000 after acquiring an additional 63,618 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Armstrong World Industries by 12.2% in the fourth quarter. Vanguard Group Inc. now owns 4,763,167 shares of the construction company’s stock valued at $468,315,000 after purchasing an additional 517,699 shares in the last quarter. London Co. of Virginia lifted its holdings in shares of Armstrong World Industries by 1.7% in the third 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. River Road Asset Management LLC lifted its holdings in shares of Armstrong World Industries by 2.1% in the third quarter. River Road Asset Management LLC now owns 2,079,825 shares of the construction company’s stock valued at $149,747,000 after purchasing an additional 42,927 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Armstrong World Industries by 25.9% in the third quarter. FMR LLC now owns 1,625,940 shares of the construction company’s stock valued at $117,068,000 after purchasing an additional 334,065 shares in the last quarter. 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.