Armstrong World Industries Inc. (NYSE:AWI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $40.82, but opened at $40.85. Armstrong World Industries shares last traded at $41.24, with a volume of 450,682 shares traded.

A number of equities analysts have recently weighed in on AWI shares. Barclays PLC reissued an “underweight” rating and set a $39.00 price target (down from $45.00) on shares of Armstrong World Industries in a research report on Tuesday, May 10th. Piper Jaffray Cos. started coverage on shares of Armstrong World Industries in a research report on Monday, May 16th. They set a “neutral” rating and a $45.00 price target on the stock. Zacks Investment Research raised shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a research report on Friday, April 15th. Royal Bank Of Canada lifted their price target on shares of Armstrong World Industries from $41.00 to $44.00 in a research report on Tuesday, April 12th. Finally, Goldman Sachs Group Inc. cut shares of Armstrong World Industries from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $38.00 to $34.00 in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.60.

The stock’s 50 day moving average is $39.40 and its 200 day moving average is $40.67. The firm has a market cap of $2.30 billion and a PE ratio of 61.65.

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

A number of institutional investors have made changes to their positions in the stock. ING Groep acquired a new position in shares of Armstrong World Industries during the third quarter valued at about $2,943,000. Rhumbline Advisers boosted its position in shares of 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 during the period. California Public Employees Retirement System boosted its position 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 during the period. Cornerstone Capital Management Holdings LLC. boosted its position 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 during the period. Finally, Principal Financial Group Inc. boosted its position in shares of 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 valued at $65,918,000 after buying an additional 29,111 shares during the period.

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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