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Armstrong World Industries (NYSE:AWI) Downgraded to Hold at StockNews.com

Defense World ·  09/14 16:01

StockNews.com cut shares of Armstrong World Industries (NYSE:AWI – Get Rating) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other analysts have also recently issued reports on the stock. UBS Group cut their price target on shares of Armstrong World Industries from $86.00 to $82.00 and set a sell rating on the stock in a report on Wednesday, July 27th. The Goldman Sachs Group upgraded Armstrong World Industries from a neutral rating to a buy rating and set a $93.00 price objective on the stock in a research note on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Armstrong World Industries in a research report on Wednesday, August 17th. They issued a buy rating and a $125.00 target price for the company. Finally, Loop Capital raised Armstrong World Industries from a hold rating to a buy rating and set a $95.00 price target on the stock in a research report on Wednesday, June 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $112.80.

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Armstrong World Industries Stock Performance

Shares of AWI stock opened at $84.75 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.66 and a quick ratio of 1.14. The company's fifty day moving average price is $85.85 and its two-hundred day moving average price is $85.86. The firm has a market capitalization of $3.93 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.41 and a beta of 1.23. Armstrong World Industries has a 12 month low of $73.25 and a 12 month high of $118.14.

Armstrong World Industries (NYSE:AWI – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.09). Armstrong World Industries had a return on equity of 41.11% and a net margin of 16.07%. The business had revenue of $321.00 million during the quarter, compared to analyst estimates of $317.19 million. During the same quarter last year, the firm posted $1.16 EPS. The company's revenue was up 14.6% compared to the same quarter last year. On average, research analysts anticipate that Armstrong World Industries will post 5.15 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were given a dividend of $0.231 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. Armstrong World Industries's dividend payout ratio is currently 23.06%.

Institutional Trading of Armstrong World Industries

Several hedge funds have recently bought and sold shares of the company. Cantillon Capital Management LLC increased its stake in shares of Armstrong World Industries by 47.6% in the first quarter. Cantillon Capital Management LLC now owns 1,785,922 shares of the construction company's stock valued at $160,750,000 after purchasing an additional 575,715 shares during the period. William Blair Investment Management LLC bought a new position in Armstrong World Industries in the 2nd quarter worth approximately $33,129,000. Gates Capital Management Inc. increased its position in Armstrong World Industries by 39.8% in the 1st quarter. Gates Capital Management Inc. now owns 1,244,821 shares of the construction company's stock valued at $112,046,000 after acquiring an additional 354,499 shares during the period. Cooke & Bieler LP raised its stake in Armstrong World Industries by 29.7% during the 1st quarter. Cooke & Bieler LP now owns 1,331,092 shares of the construction company's stock valued at $119,812,000 after acquiring an additional 304,922 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in Armstrong World Industries during the 2nd quarter worth $21,917,000.

About Armstrong World Industries

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Armstrong World Industries, Inc, together with its subsidiaries, 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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