Armstrong World Industries Inc (AWI) Given “Hold” Rating at Royal Bank Of Canada
Armstrong World Industries Inc (NYSE:AWI)‘s stock had its “hold” rating reiterated by Royal Bank Of Canada in a report released on Wednesday. They currently have a $55.00 price objective on the construction company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 9.67% from the stock’s previous close.
A number of other analysts have also weighed in on the company. BidaskClub lowered Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Citigroup Inc. increased their target price on Armstrong World Industries from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. KeyCorp reiterated a “hold” rating on shares of Armstrong World Industries in a research note on Tuesday, October 24th. Deutsche Bank AG increased their target price on Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.33.
Shares of Armstrong World Industries (NYSE AWI) opened at $50.15 on Wednesday. Armstrong World Industries has a twelve month low of $38.45 and a twelve month high of $54.45. The firm has a market capitalization of $2,673.53, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.50 and a beta of 1.73. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 2.25.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The company had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $357.29 million. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. equities analysts forecast that Armstrong World Industries will post 2.84 earnings per share for the current fiscal year.
Armstrong World Industries announced that its Board of Directors has authorized a share repurchase plan on Monday, October 30th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently modified their holdings of AWI. JPMorgan Chase & Co. boosted its position in Armstrong World Industries by 14.1% during the second quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock valued at $106,000 after purchasing an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Armstrong World Industries by 239.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock valued at $128,000 after purchasing an additional 1,964 shares in the last quarter. SG Americas Securities LLC bought a new stake in Armstrong World Industries during the second quarter valued at about $149,000. BNP Paribas Arbitrage SA boosted its position in Armstrong World Industries by 65.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock valued at $162,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Armstrong World Industries during the third quarter valued at about $193,000.
About Armstrong World Industries
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.
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