Bank of America Cuts Armstrong World Industries (NYSE:AWI) Price Target to $87.00
Armstrong World Industries has had its price objective decreased by research analysts at Bank of America.
The price target of would suggest a potential gain of 22.64 % over the current price.
AWI has also been the subject of recent reports by other analysts. Zelman & Associates lowered Armstrong World Industries' rating from a buy' to a hold' in a report published on Wednesday, December 21, 2008. Truist Financial reduced their target price for shares of Armstrong World Industries to $90.00 in a report published on February 22nd. They also set a "buy" rating for the firm. Goldman Sachs Group reduced their price target for shares of Armstrong World Industries to $86.00 in a report published on Thursday, January 12. They also gave the stock a "buy" rating. In a research report published on April 6th, Armstrong World Industries was downgraded from a "buy" rating to a "hold". Five analysts have given the stock a hold rating, while three others have given it a buy rating. On Wednesday, the stock opened at $70.94. The company's current ratio is 1.95. Its quick ratio is 1.35. And its debt-to equity ratio is 1.24. Armstrong World Industries' 12-month low is $66.06 while its 12-month high is $95.69. The 50-day and 200-day moving averges of the firm are $73.49, respectively. The market capitalization is $3.22 billion. It has a price to earnings ratio of 16.23. A P/E/G of 1.66. And a beta of 1.1.
The last time ) released its quarterly earnings was on February 21st. The construction company's earnings per share were $1.08, which was below the consensus estimate ($1.11) by $0.03. Revenue for the quarter was $304.50 millions, which is higher than the consensus estimate of only $298.81. Armstrong World Industries' return on equity was 41.59%, and its net margin was 16.45%. Revenue was up 7.8% from the same quarter of last year. In the same quarter last year, the company earned $1.09 per share. Armstrong World Industries is expected to post an average of 4.86 earnings per share for the current fiscal period, according to analysts at equities.
Insiders Bet on the Future
In a deal dated February 1, 2016, the company sold 6,835 of its shares. The shares were purchased at an average of $80.14 for a value of $547.756.90. After the sale was completed, the senior vice-president now owns approximately $3,062,790.52 worth of shares. Insiders own 1.80% of company stock.
Armstrong World Industries: Institutional Trading
A number of hedge fund have bought and sold AWI shares recently. Cantillon Capital Management LLC increased its stake in Armstrong World Industries shares by 8.7% during 4th quarter. Cantillon Capital Management LLC owns now 1,917.708 shares worth $131.536,000 of the stock owned by the construction company after buying an additional 152.796 shares in the last quarter. Alliancebernstein L.P. increased its holdings of Armstrong World Industries by 59% in the third quarter. Alliancebernstein L.P. owns 1,500.752 shares worth $118.905,000 of the stock of the construction firm after buying an additional 558.365 shares during the last quarter. River Road Asset Management LLC increased its holdings in Armstrong World Industries shares by 2.2% over the last quarter. River Road Asset Management LLC owns now 1,413,488 of the construction company’s stock worth $96,951,000, after purchasing an additional 29,899 during the last quarterly. Balyasny Asset Management LLC increased its holdings of Armstrong World Industries shares by 25.3% during the third quarter. Balyasny Asset Management LLC owns now 1,223,486 of the construction company stock valued at $96.937,000, after purchasing an additional 246,779 in the last quarter. Yacktman Asset Management LP increased its holdings in Armstrong World Industries shares by 2.7% during the fourth quarter. Yacktman Asset Management LP owns now 1,144,763 of the stock of the construction firm worth $78,519,000. This is after purchasing an additional 29,811 during the last quarter.
Armstrong World Industries
Armstrong World Industries, Inc is engaged in the manufacture and sale of ceiling, wall, suspension, and other solutions for commercial and residential applications. The company operates in three segments: Architectural Specialties and Unallocated Corporate. The Mineral Fiber segment manufactures suspended mineral fiber ceilings and soft fibre ceiling systems that are used in both commercial and residential settings.
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