Shares of Armstrong World Industries Inc. (NYSE:AWI) were down 2.8% during mid-day trading on Tuesday . The company traded as low as $38.56 and last traded at $39.09, with a volume of 427,673 shares traded. The stock had previously closed at $40.20.

A number of analysts have recently issued reports on AWI shares. Citigroup Inc. increased their price objective on shares of Armstrong World Industries from $36.40 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 16th. Piper Jaffray Cos. initiated coverage on shares of Armstrong World Industries in a research note on Monday, May 16th. They set a “neutral” rating and a $45.00 target price for the company. Barclays PLC reaffirmed an “underweight” rating and set a $39.00 target price (down from $45.00) on shares of Armstrong World Industries in a research note on Tuesday, May 10th. Zacks Investment Research raised shares of Armstrong World Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, June 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Armstrong World Industries in a research note on Monday, May 16th. They set a “neutral” rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.30.

The company’s 50-day moving average is $39.87 and its 200-day moving average is $41.03. The firm has a market capitalization of $2.16 billion and a price-to-earnings ratio of 58.05.

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

Other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new position in Armstrong World Industries during the fourth quarter valued at about $1,361,000. Rhumbline Advisers boosted its position in Armstrong World Industries by 1.1% in the fourth quarter. Rhumbline Advisers now owns 32,386 shares of the company’s stock valued at $1,481,000 after buying an additional 367 shares in the last quarter. ING Groep purchased a new position in Armstrong World Industries during the third quarter valued at about $2,943,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Armstrong World Industries by 47.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 123,900 shares of the company’s stock valued at $5,666,000 after buying an additional 39,600 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in 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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