Stock analysts at Jefferies Group initiated coverage on shares of Armstrong World Industries (NYSE:AWI) in a report released on Tuesday. The firm set a “hold” rating on the construction company’s stock.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, November 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Armstrong World Industries in a research report on Wednesday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Armstrong World Industries from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 22nd. Nomura set a $65.00 price objective on shares of Armstrong World Industries and gave the company a “buy” rating in a research report on Tuesday, November 21st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Armstrong World Industries in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.14.

Armstrong World Industries (NYSE:AWI) opened at $60.00 on Tuesday. Armstrong World Industries has a fifty-two week low of $38.45 and a fifty-two week high of $60.55. The stock has a market cap of $3,170.68, a price-to-earnings ratio of 23.15, a PEG ratio of 1.82 and a beta of 1.78. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.98 and a quick ratio of 1.41.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The firm had revenue of $351.90 million during the quarter, compared to analyst estimates of $357.29 million. During the same period last year, the firm earned $0.99 EPS. Armstrong World Industries’s quarterly revenue was up 5.0% on a year-over-year basis. sell-side analysts expect that Armstrong World Industries will post 2.81 earnings per share for the current fiscal year.

Armstrong World Industries announced that its Board of Directors has approved a stock repurchase program on Monday, October 30th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Armstrong World Industries news, SVP Ellen R. Romano sold 33,087 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the sale, the senior vice president now directly owns 14,769 shares of the company’s stock, valued at approximately $807,568.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Iridian Asset Management LLC CT raised its holdings in shares of Armstrong World Industries by 7.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 4,750,675 shares of the construction company’s stock valued at $218,531,000 after purchasing an additional 336,960 shares during the period. Vanguard Group Inc. raised its holdings in shares of Armstrong World Industries by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,491,622 shares of the construction company’s stock valued at $160,614,000 after purchasing an additional 51,135 shares during the period. Fiduciary Management Inc. WI raised its holdings in shares of Armstrong World Industries by 10.2% in the 3rd quarter. Fiduciary Management Inc. WI now owns 2,071,579 shares of the construction company’s stock valued at $106,168,000 after purchasing an additional 190,895 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Armstrong World Industries by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,834,254 shares of the construction company’s stock valued at $94,006,000 after purchasing an additional 9,737 shares during the period. Finally, Tiger Global Management LLC raised its holdings in shares of Armstrong World Industries by 8.2% in the 2nd quarter. Tiger Global Management LLC now owns 1,779,431 shares of the construction company’s stock valued at $81,854,000 after purchasing an additional 134,431 shares during the period.

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About Armstrong World Industries

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.

Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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