Armstrong World Industries (NYSE:AWI) Stock Gets Price Target Cut from UBS Group

Armstrong World Industries (NYSE:AWI) had its target price cut by UBS Group from $203.00 to $190.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. lowered their price objective on shares of Armstrong World Industries from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday. DA Davidson set a $200.00 target price on shares of Armstrong World Industries in a report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 target price on shares of Armstrong World Industries in a research report on Wednesday. Finally, Truist Financial decreased their target price on shares of Armstrong World Industries from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.12.

Armstrong World Industries Trading Up 0.3%

Armstrong World Industries stock opened at $166.42 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.06. Armstrong World Industries has a one year low of $150.28 and a one year high of $206.04. The stock has a market capitalization of $6.96 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The business’s fifty day moving average is $166.29 and its 200 day moving average is $169.85.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 27th. The construction company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.13). Armstrong World Industries had a return on equity of 38.06% and a net margin of 18.38%. The business had revenue of $475.80 million during the quarter, compared to the consensus estimate of $472.62 million. During the same quarter in the previous year, the business posted $2.05 earnings per share. Armstrong World Industries’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Armstrong World Industries will post 8.32 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a $0.3730 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date is Thursday, November 5th. This represents a $1.49 annualized dividend and a dividend yield of 0.9%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 18.16%.

Armstrong World Industries announced that its board has approved a stock repurchase program on Tuesday, July 21st that authorizes the company to repurchase $800 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Armstrong World Industries

Several institutional investors and hedge funds have recently bought and sold shares of AWI. BlackRock Inc. purchased a new stake in Armstrong World Industries in the 2nd quarter worth approximately $827,239,000. Bank of America Corp DE lifted its holdings in Armstrong World Industries by 5.2% during the first quarter. Bank of America Corp DE now owns 457,619 shares of the construction company’s stock valued at $75,416,000 after purchasing an additional 22,477 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Armstrong World Industries by 3.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 387,256 shares of the construction company’s stock valued at $63,820,000 after purchasing an additional 11,645 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Armstrong World Industries by 71.1% during the third quarter. Cooke & Bieler LP now owns 392,406 shares of the construction company’s stock valued at $63,542,000 after purchasing an additional 163,028 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Armstrong World Industries in the second quarter worth approximately $43,412,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.

The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.