Goldman Sachs upgraded shares of Armstrong World Industries (NYSE:AWI) from a sell rating to a neutral rating in a research report sent to investors on Wednesday, April 4th, Marketbeat Ratings reports.
AWI has been the subject of a number of other research reports. Stephens restated a hold rating and set a $64.00 price objective on shares of Armstrong World Industries in a report on Thursday, March 1st. Zacks Investment Research upgraded Armstrong World Industries from a hold rating to a buy rating and set a $68.00 price objective for the company in a report on Tuesday, March 13th. Jefferies Group restated a hold rating and set a $66.00 price objective on shares of Armstrong World Industries in a report on Wednesday, January 17th. SunTrust Banks restated a buy rating and set a $67.00 price objective on shares of Armstrong World Industries in a report on Monday, February 26th. Finally, JPMorgan Chase cut Armstrong World Industries from a neutral rating to an underweight rating in a report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $58.33.
AWI opened at $56.35 on Wednesday. Armstrong World Industries has a 52-week low of $41.20 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 1.95, a current ratio of 2.40 and a quick ratio of 2.20. The firm has a market cap of $2,984.51, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 0.93 and a beta of 1.68.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Monday, February 26th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.16). Armstrong World Industries had a net margin of 12.77% and a return on equity of 41.95%. The business had revenue of $214.30 million for the quarter, compared to analysts’ expectations of $263.06 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Armstrong World Industries’s revenue was up 9.1% compared to the same quarter last year. research analysts forecast that Armstrong World Industries will post 3.61 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Armstrong World Industries in the 4th quarter worth $221,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Armstrong World Industries in the 4th quarter worth $238,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Armstrong World Industries in the 4th quarter worth $4,687,000. Gotham Asset Management LLC bought a new position in shares of Armstrong World Industries in the 4th quarter worth $233,000. Finally, Jane Street Group LLC bought a new position in shares of Armstrong World Industries in the 4th quarter worth $332,000.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.
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