Armstrong World Industries, Inc. (NYSE:AWI) Given Consensus Recommendation of “Hold” by Analysts

Armstrong World Industries, Inc. (NYSE:AWI) has earned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $140.83.

Several analysts have recently issued reports on AWI shares. Truist Financial boosted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Loop Capital boosted their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th.

Armstrong World Industries Stock Performance

NYSE AWI opened at $142.88 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $6.23 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The business’s 50-day moving average price is $149.93 and its 200 day moving average price is $132.23. Armstrong World Industries has a twelve month low of $95.24 and a twelve month high of $164.40.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the prior year, the firm posted $1.60 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Thursday, November 7th. Armstrong World Industries’s dividend payout ratio is presently 21.69%.

Hedge Funds Weigh In On Armstrong World Industries

A number of institutional investors have recently made changes to their positions in AWI. Raymond James & Associates lifted its stake in Armstrong World Industries by 0.4% during the second quarter. Raymond James & Associates now owns 78,207 shares of the construction company’s stock worth $8,856,000 after purchasing an additional 278 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Armstrong World Industries by 16,850.0% during the second quarter. Fifth Third Bancorp now owns 1,356 shares of the construction company’s stock valued at $154,000 after purchasing an additional 1,348 shares during the last quarter. &PARTNERS bought a new stake in shares of Armstrong World Industries in the 2nd quarter worth approximately $340,000. Allspring Global Investments Holdings LLC boosted its position in Armstrong World Industries by 41.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Armstrong World Industries by 16.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,120 shares of the construction company’s stock worth $1,146,000 after buying an additional 1,466 shares during 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.