Armstrong World Industries Inc. (NYSE:AWI)’s share price traded down 2.8% during trading on Tuesday . The stock traded as low as $38.56 and last traded at $39.09, with a volume of 427,673 shares changing hands. The stock had previously closed at $40.20.

Several equities analysts recently issued reports on AWI shares. Stephens started coverage on Armstrong World Industries in a research note on Friday. They set an “equal weight” rating on the stock. Goldman Sachs Group Inc. cut Armstrong World Industries from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research note on Monday. Royal Bank Of Canada raised their price objective on Armstrong World Industries from $41.00 to $44.00 in a research note on Tuesday, April 12th. JPMorgan Chase & Co. started coverage on Armstrong World Industries in a research note on Monday, May 16th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, Zacks Investment Research upgraded Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.30.

The company’s 50-day moving average price is $39.97 and its 200 day moving average price is $41.06. The firm has a market cap of $2.15 billion and a P/E ratio of 57.87.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Monday, May 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $571.80 million for the quarter, compared to the consensus estimate of $562.43 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Armstrong World Industries Inc. will post $2.23 EPS for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Armstrong World Industries by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,441,474 shares of the company’s stock worth $65,918,000 after buying an additional 29,111 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Armstrong World Industries by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the company’s stock valued at $50,732,000 after buying an additional 64,633 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Armstrong World Industries by 1,187.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 515,000 shares of the company’s stock valued at $23,551,000 after buying an additional 475,000 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Armstrong World Industries by 503.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 287,524 shares of the company’s stock valued at $13,148,000 after buying an additional 239,913 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Armstrong World Industries by 9.1% in the fourth quarter. California Public Employees Retirement System now owns 217,600 shares of the company’s stock valued at $9,951,000 after buying an additional 18,100 shares in the last quarter.

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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