UBS Group Forecasts Strong Price Appreciation for Armstrong World Industries (NYSE:AWI) Stock

Armstrong World Industries (NYSE:AWI) had its price target hoisted by UBS Group from $150.00 to $158.00 in a report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Loop Capital boosted their price objective on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Truist Financial lifted 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. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Evercore ISI increased their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $153.33.

Armstrong World Industries Stock Up 1.5 %

AWI opened at $153.44 on Wednesday. Armstrong World Industries has a 1 year low of $110.68 and a 1 year high of $164.40. The firm has a 50 day moving average price of $148.07 and a 200 day moving average price of $142.41. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market cap of $6.69 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The company had revenue of $367.70 million during the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Sell-side analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries’s dividend payout ratio is currently 20.40%.

Hedge Funds Weigh In On Armstrong World Industries

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

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.