Loop Capital Issues Positive Forecast for Armstrong World Industries (NYSE:AWI) Stock Price

Armstrong World Industries (NYSE:AWI) had its price target raised by Loop Capital from $135.00 to $145.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Evercore ISI raised their price objective on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday. UBS Group boosted 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. Finally, Truist Financial lifted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $140.83.

Armstrong World Industries Stock Up 0.7 %

Shares of AWI opened at $140.59 on Wednesday. The firm has a 50 day simple moving average of $131.91 and a two-hundred day simple moving average of $122.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.19. Armstrong World Industries has a one year low of $77.73 and a one year high of $143.07. The company has a market cap of $6.13 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.95 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Research analysts forecast that Armstrong World Industries will post 6.19 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. Armstrong World Industries’s dividend payout ratio is presently 19.75%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Armstrong World Industries during the third quarter worth $26,000. Allspring Global Investments Holdings LLC bought a new stake in Armstrong World Industries during the first quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Armstrong World Industries during the 3rd quarter worth about $31,000. First Horizon Advisors Inc. lifted its stake in shares of Armstrong World Industries by 33.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock valued at $57,000 after purchasing an additional 125 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares in the last quarter. Institutional investors 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.