Jefferies Financial Group Boosts Armstrong World Industries (NYSE:AWI) Price Target to $122.00

Armstrong World Industries (NYSE:AWI) had its price target upped by Jefferies Financial Group from $121.00 to $122.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target indicates a potential downside of 9.92% from the company’s current price.

Several other equities analysts have also recently issued reports on AWI. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial lifted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Evercore ISI raised their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Armstrong World Industries Stock Up 1.0 %

AWI traded up $1.35 during trading hours on Wednesday, hitting $135.43. 214,518 shares of the company’s stock were exchanged, compared to its average volume of 315,905. The firm has a market cap of $5.93 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Armstrong World Industries has a 12-month low of $68.35 and a 12-month high of $136.35. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $126.18 and a 200 day moving average of $120.51.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. The business had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. Analysts predict that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Armstrong World Industries

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Armstrong World Industries by 56.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,586,551 shares of the construction company’s stock valued at $155,991,000 after purchasing an additional 569,824 shares during the period. Vanguard Group Inc. lifted its stake in 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 buying an additional 517,699 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Armstrong World Industries in the first quarter valued at approximately $39,183,000. GAMMA Investing LLC grew its position in shares of Armstrong World Industries by 25.3% during the first quarter. GAMMA Investing LLC now owns 620 shares of the construction company’s stock worth $77,000 after acquiring an additional 125 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Armstrong World Industries by 7.5% during the first quarter. Park Avenue Securities LLC now owns 6,530 shares of the construction company’s stock worth $811,000 after acquiring an additional 457 shares during the last quarter. Hedge funds and other institutional investors 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.