Armstrong World Industries Inc (AWI) Receives Hold Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their hold rating on shares of Armstrong World Industries Inc (NYSE:AWI) in a report released on Wednesday. The brokerage currently has a $55.00 price target on the construction company’s stock.

AWI has been the subject of a number of other reports. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $55.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, November 1st. BidaskClub lowered shares of Armstrong World Industries from a hold rating to a sell rating in a research note on Thursday, July 27th. ValuEngine lowered shares of Armstrong World Industries from a buy rating to a hold rating in a research note on Tuesday, August 1st. KeyCorp reaffirmed a hold rating on shares of Armstrong World Industries in a research note on Tuesday, October 24th. Finally, Citigroup Inc. upped their price objective on shares of Armstrong World Industries from $52.00 to $58.00 and gave the stock a neutral rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Armstrong World Industries has a consensus rating of Hold and a consensus target price of $50.33.

Armstrong World Industries (NYSE AWI) traded down $0.10 during trading hours on Wednesday, reaching $50.05. 311,100 shares of the company were exchanged, compared to its average volume of 495,954. Armstrong World Industries has a 52 week low of $38.45 and a 52 week high of $54.45. The stock has a market capitalization of $2,652.37, a price-to-earnings ratio of 19.36, a PEG ratio of 1.49 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 data on Monday, October 30th. The construction company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The business had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $357.29 million. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. sell-side analysts predict that Armstrong World Industries will post 2.84 EPS for the current fiscal year.

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Armstrong World Industries announced that its board has approved a stock buyback plan on Monday, October 30th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of 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 buying an additional 1,964 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Armstrong World Industries during the second quarter valued at about $149,000. BNP Paribas Arbitrage SA lifted its position in shares of 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 buying an additional 1,391 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Armstrong World Industries during the third quarter valued at about $193,000.

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.

Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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