Armstrong World Industries (NYSE:AWI) Price Target Raised to $220.00 at JPMorgan Chase & Co.

Armstrong World Industries (NYSE:AWI) had its target price lifted by JPMorgan Chase & Co. from $210.00 to $220.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

A number of other brokerages have also weighed in on AWI. Zacks Research lowered shares of Armstrong World Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. UBS Group lifted their price target on shares of Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial lifted their price target on shares of Armstrong World Industries from $195.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 12th. Vertical Research assumed coverage on shares of Armstrong World Industries in a report on Monday, October 20th. They issued a “buy” rating and a $238.00 price target on the stock. Finally, Bank of America raised their target price on shares of Armstrong World Industries from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Armstrong World Industries currently has a consensus rating of “Moderate Buy” and an average price target of $207.50.

Armstrong World Industries Stock Down 0.7%

Shares of AWI opened at $192.19 on Wednesday. The firm has a market cap of $8.31 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45. The company’s fifty day moving average is $196.92 and its two-hundred day moving average is $173.92. Armstrong World Industries has a fifty-two week low of $122.37 and a fifty-two week high of $206.08. The company has a quick ratio of 1.11, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, November 6th. The construction company reported $1.36 earnings per share for the quarter. The company had revenue of $325.00 million for the quarter. Armstrong World Industries had a net margin of 19.08% and a return on equity of 38.97%. Analysts forecast that Armstrong World Industries will post 6.18 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be paid a $0.339 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.31. Armstrong World Industries’s payout ratio is 18.20%.

Hedge Funds Weigh In On Armstrong World Industries

A number of hedge funds have recently made changes to their positions in AWI. Root Financial Partners LLC purchased a new stake in Armstrong World Industries during the 3rd quarter worth $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Armstrong World Industries during the 2nd quarter worth $32,000. Golden State Wealth Management LLC increased its stake in Armstrong World Industries by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the construction company’s stock worth $39,000 after buying an additional 140 shares during the period. Headlands Technologies LLC purchased a new stake in Armstrong World Industries during the 2nd quarter worth $46,000. Finally, MAI Capital Management purchased a new stake in Armstrong World Industries during the 2nd quarter worth $47,000. Hedge funds and other 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.