Armstrong World Industries Inc (AWI) Reaches New 1-Year High at $50.00
Armstrong World Industries Inc (NYSE:AWI) reached a new 52-week high during trading on Friday . The company traded as high as $50.00 and last traded at $50.05, with a volume of 251,174 shares changing hands. The stock had previously closed at $49.15.
A number of equities research analysts have recently commented on AWI shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of Armstrong World Industries in a report on Thursday, June 15th. Zacks Investment Research cut shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Monday, July 10th. ValuEngine upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub cut shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG increased their price target on shares of Armstrong World Industries from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.43.
The stock has a 50 day moving average of $46.53 and a 200 day moving average of $45.39. The company has a market cap of $2.64 billion, a P/E ratio of 16.22 and a beta of 1.63.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.04. The firm had revenue of $330.80 million for the quarter, compared to the consensus estimate of $330.92 million. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts expect that Armstrong World Industries Inc will post $2.72 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Armstrong World Industries by 10,381.5% during the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock worth $88,541,000 after buying an additional 1,904,378 shares during the period. River Road Asset Management LLC purchased a new position in Armstrong World Industries in the second quarter worth approximately $39,704,000. Iridian Asset Management LLC CT lifted its stake in Armstrong World Industries by 20.4% in the first quarter. Iridian Asset Management LLC CT now owns 4,413,715 shares of the construction company’s stock worth $203,252,000 after acquiring an additional 746,618 shares during the last quarter. Timucuan Asset Management Inc. FL purchased a new position in Armstrong World Industries in the second quarter worth approximately $19,748,000. Finally, Renaissance Technologies LLC purchased a new position in Armstrong World Industries in the first quarter worth approximately $13,852,000.
ILLEGAL ACTIVITY WARNING: “Armstrong World Industries Inc (AWI) Reaches New 1-Year High at $50.00” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/08/armstrong-world-industries-inc-awi-reaches-new-1-year-high-at-50-00.html.
Armstrong World Industries Company Profile
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.