Armstrong World Industries Inc (AWI) Reaches New 12-Month High at $52.28
Armstrong World Industries Inc (NYSE:AWI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $52.28 and last traded at $52.43, with a volume of 108,558 shares changing hands. The stock had previously closed at $51.85.
AWI has been the topic of a number of analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $50.00 price objective on shares of Armstrong World Industries in a report on Thursday, June 15th. Zacks Investment Research lowered shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Monday, July 10th. ValuEngine upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub lowered shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG raised their price objective on shares of Armstrong World Industries from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.
The firm’s 50 day moving average price is $48.80 and its 200 day moving average price is $46.13. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 16.99 and a beta of 1.63.
Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The business had revenue of $330.80 million during the quarter, compared to the consensus estimate of $330.92 million. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Armstrong World Industries Inc will post $2.73 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of AWI. BlackRock Inc. raised its holdings in Armstrong World Industries by 10,381.5% in the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after acquiring an additional 1,904,378 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Armstrong World Industries in the second quarter valued at $39,704,000. Timucuan Asset Management Inc. FL acquired a new stake in Armstrong World Industries in the second quarter valued at $19,748,000. Iridian Asset Management LLC CT raised its holdings in Armstrong World Industries by 7.6% in the second quarter. Iridian Asset Management LLC CT now owns 4,750,675 shares of the construction company’s stock valued at $218,531,000 after acquiring an additional 336,960 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Armstrong World Industries in the first quarter valued at $13,852,000.
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Armstrong World Industries Company Profile
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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