UBS Group Raises Armstrong World Industries (NYSE:AWI) Price Target to $122.00

Armstrong World Industries (NYSE:AWI) had its price objective boosted by UBS Group from $121.00 to $122.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

Several other brokerages have also recently issued reports on AWI. Evercore ISI raised their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the stock an in-line rating in a research note on Wednesday. Truist Financial raised their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. StockNews.com upgraded Armstrong World Industries from a hold rating to a buy rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $110.17.

Armstrong World Industries Stock Performance

Shares of AWI opened at $114.05 on Wednesday. The business’s fifty day moving average price is $120.32 and its 200 day moving average price is $101.60. Armstrong World Industries has a 12-month low of $62.03 and a 12-month high of $125.56. The stock has a market capitalization of $5.00 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.07.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.15. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Armstrong World Industries will post 5.74 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is 22.40%.

Hedge Funds Weigh In On Armstrong World Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in Armstrong World Industries in the fourth quarter worth about $760,000. Dark Forest Capital Management LP acquired a new stake in Armstrong World Industries in the third quarter worth about $1,630,000. State of Alaska Department of Revenue lifted its holdings in Armstrong World Industries by 211.3% in the fourth quarter. State of Alaska Department of Revenue now owns 40,042 shares of the construction company’s stock worth $3,936,000 after purchasing an additional 27,179 shares during the period. Barclays PLC lifted its holdings in Armstrong World Industries by 42.2% in the third quarter. Barclays PLC now owns 24,225 shares of the construction company’s stock worth $1,743,000 after purchasing an additional 7,186 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Armstrong World Industries in the third quarter worth about $244,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Armstrong World Industries

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.