StockNews.com Downgrades Armstrong World Industries (NYSE:AWI) to Hold

Armstrong World Industries (NYSE:AWI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other equities research analysts have also recently weighed in on the stock. Evercore ISI lifted 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. Truist Financial boosted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company 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, Jefferies Financial Group increased their price target on Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Trading Up 1.6 %

Armstrong World Industries stock opened at $148.11 on Tuesday. 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 firm’s 50-day moving average is $150.85 and its 200-day moving average is $135.80. Armstrong World Industries has a 1 year low of $96.69 and a 1 year high of $164.40. The company has a market cap of $6.46 billion, a P/E ratio of 26.12, a PEG ratio of 2.01 and a beta of 1.18.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS 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 during the quarter, compared to analyst estimates of $386.69 million. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect that Armstrong World Industries will post 6.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its position in shares of Armstrong World Industries by 21.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,087 shares of the construction company’s stock valued at $1,143,000 after acquiring an additional 1,441 shares during the last quarter. Tealwood Asset Management Inc. lifted its position in shares of Armstrong World Industries by 0.8% in the fourth quarter. Tealwood Asset Management Inc. now owns 9,287 shares of the construction company’s stock worth $1,313,000 after purchasing an additional 71 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Armstrong World Industries by 107.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 674 shares of the construction company’s stock valued at $95,000 after buying an additional 349 shares during the period. ORG Wealth Partners LLC acquired a new position in Armstrong World Industries in the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC acquired a new position in Armstrong World Industries in the fourth quarter worth approximately $33,000. 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.