Armstrong World Industries (NYSE:AWI) Reaches New 1-Year High After Analyst Upgrade

Armstrong World Industries, Inc. (NYSE:AWI) shares hit a new 52-week high on Friday after Truist Financial raised their price target on the stock from $195.00 to $230.00. Truist Financial currently has a buy rating on the stock. Armstrong World Industries traded as high as $200.84 and last traded at $198.41, with a volume of 5123 shares trading hands. The stock had previously closed at $199.13.

A number of other equities research analysts have also recently weighed in on the stock. UBS Group reiterated a “neutral” rating and set a $178.00 price target (up from $158.00) on shares of Armstrong World Industries in a research report on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on shares of Armstrong World Industries in a research report on Tuesday, June 24th. They set an “overweight” rating and a $200.00 price target for the company. Loop Capital set a $190.00 price target on shares of Armstrong World Industries and gave the company a “hold” rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Evercore ISI lifted their price target on shares of Armstrong World Industries from $157.00 to $182.00 and gave the company an “in-line” rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $181.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AWI. Captrust Financial Advisors acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $463,000. Deutsche Bank AG grew its holdings in shares of Armstrong World Industries by 48.8% in the fourth quarter. Deutsche Bank AG now owns 39,402 shares of the construction company’s stock valued at $5,569,000 after purchasing an additional 12,927 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Armstrong World Industries by 48.9% in the fourth quarter. Gotham Asset Management LLC now owns 4,027 shares of the construction company’s stock valued at $569,000 after purchasing an additional 1,323 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $338,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Armstrong World Industries in the fourth quarter valued at approximately $467,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 1.3%

The business’s fifty day moving average is $185.15 and its two-hundred day moving average is $160.76. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 2.19 and a beta of 1.46.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, July 29th. The construction company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.34. Armstrong World Industries had a net margin of 18.95% and a return on equity of 39.80%. The company had revenue of $424.60 million for the quarter, compared to the consensus estimate of $404.05 million. During the same period in the prior year, the firm posted $1.62 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. Armstrong World Industries has set its FY 2025 guidance at 7.150-7.300 EPS. Equities analysts forecast that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.308 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.6%. Armstrong World Industries’s dividend payout ratio is currently 18.20%.

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.