Armstrong World Industries Inc. (AWI) Given a $39.00 Price Target at Bank of America Corp.
Armstrong World Industries Inc. (NYSE:AWI) received a $39.00 price target from Bank of America Corp. in a report issued on Tuesday. The brokerage presently has a a “sell” rating on the stock. Bank of America Corp.’s price objective would suggest a potential downside of 5.27% from the company’s previous close.
AWI has been the subject of several other reports. Stephens began coverage on Armstrong World Industries in a report on Friday, July 8th. They issued an “equal weight” rating for the company. Zacks Investment Research upgraded Armstrong World Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. downgraded Armstrong World Industries from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $38.00 to $34.00 in a report on Monday, July 11th. KeyCorp upgraded Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $50.00 target price on the stock in a research note on Friday, August 5th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $47.00 target price (up previously from $45.00) on shares of Armstrong World Industries in a research note on Monday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Armstrong World Industries currently has a consensus rating of “Hold” and a consensus target price of $46.25.
Armstrong World Industries (NYSE:AWI) traded up 0.85% during trading on Tuesday, reaching $41.52. 316,743 shares of the company’s stock traded hands. Armstrong World Industries has a one year low of $35.92 and a one year high of $52.33. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 92.47 and a beta of 1.50. The company has a 50 day moving average of $42.51 and a 200 day moving average of $41.69.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Friday, July 29th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm earned $314.30 million during the quarter, compared to the consensus estimate of $311.65 million. Armstrong World Industries had a return on equity of 18.58% and a net margin of 1.18%. The firm’s quarterly revenue was down 50.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts predict that Armstrong World Industries will post $2.28 EPS for the current year.
In related news, VP Stephen F. Mcnamara sold 2,274 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.00, for a total value of $102,330.00. Following the sale, the vice president now owns 5,242 shares in the company, valued at $235,890. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. purchased a new stake in shares of Armstrong World Industries during the second quarter worth approximately $223,000. Teacher Retirement System of Texas raised its stake in shares of Armstrong World Industries by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 5,830 shares of the company’s stock worth $228,000 after buying an additional 1,074 shares in the last quarter. Amalgamated Bank raised its stake in shares of Armstrong World Industries by 21.9% in the second quarter. Amalgamated Bank now owns 5,610 shares of the company’s stock worth $250,000 after buying an additional 1,006 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Armstrong World Industries during the first quarter worth approximately $260,000. Finally, Advisor Group Inc. purchased a new stake in shares of Armstrong World Industries during the second quarter worth approximately $263,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.
About Armstrong World Industries
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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