Research analysts at Goldman Sachs Group initiated coverage on shares of Armstrong World Industries (NYSE:AWI) in a research report issued on Friday, The Fly reports. The brokerage set a “conviction-buy” rating on the construction company’s stock.
A number of other equities research analysts also recently commented on the company. BNP Paribas initiated coverage on Armstrong World Industries in a report on Wednesday, October 9th. They issued an “underperform” rating for the company. Exane BNP Paribas assumed coverage on shares of Armstrong World Industries in a research note on Wednesday, October 9th. They set an “underperform” rating on the stock. ValuEngine downgraded shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating and set a $99.00 price objective for the company in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Armstrong World Industries presently has an average rating of “Hold” and an average price target of $100.01.
Shares of AWI stock opened at $93.24 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.60 and a debt-to-equity ratio of 1.77. The stock has a 50 day simple moving average of $96.36 and a 200-day simple moving average of $95.67. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. Armstrong World Industries has a 12-month low of $54.34 and a 12-month high of $104.50.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. Armstrong World Industries had a return on equity of 78.13% and a net margin of 19.55%. The firm had revenue of $277.10 million for the quarter, compared to the consensus estimate of $289.93 million. During the same period in the previous year, the business earned $1.11 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Armstrong World Industries will post 4.57 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its position in Armstrong World Industries by 19.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 274,656 shares of the construction company’s stock worth $26,697,000 after purchasing an additional 45,170 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Armstrong World Industries by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,796 shares of the construction company’s stock worth $272,000 after buying an additional 237 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Armstrong World Industries by 296.3% in the 2nd quarter. First Trust Advisors LP now owns 90,246 shares of the construction company’s stock worth $8,772,000 after buying an additional 67,471 shares in the last quarter. Bfsg LLC acquired a new stake in Armstrong World Industries in the 2nd quarter valued at about $368,000. Finally, BNP Paribas Arbitrage SA grew its stake in Armstrong World Industries by 18.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 191,218 shares of the construction company’s stock valued at $18,586,000 after acquiring an additional 29,175 shares during the last quarter.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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