Armstrong World Industries (NYSE:AWI) Given New $144.00 Price Target at UBS Group

Armstrong World Industries (NYSE:AWI) had its price target lifted by UBS Group from $136.00 to $144.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

AWI has been the topic of a number of other reports. Jefferies Financial Group raised their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Truist Financial raised their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI raised their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Price Performance

Shares of AWI opened at $140.59 on Wednesday. The firm has a market capitalization of $6.13 billion, a PE ratio of 24.80, a PEG ratio of 1.95 and a beta of 1.14. The company’s 50-day moving average is $131.91 and its 200-day moving average is $122.69. Armstrong World Industries has a fifty-two week low of $77.73 and a fifty-two week high of $143.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.19.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period last year, the firm earned $1.60 earnings per share. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that Armstrong World Industries will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.308 dividend. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 19.75%.

Hedge Funds Weigh In On Armstrong World Industries

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Armstrong World Industries by 5.9% in the 3rd quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock valued at $188,000 after purchasing an additional 79 shares in the last quarter. US Bancorp DE boosted its stake in shares of Armstrong World Industries by 13.9% in the 3rd quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Armstrong World Industries by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 306 shares of the construction company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. CWM LLC boosted its stake in shares of Armstrong World Industries by 17.3% in the 2nd quarter. CWM LLC now owns 644 shares of the construction company’s stock valued at $73,000 after purchasing an additional 95 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Armstrong World Industries by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock valued at $2,491,000 after purchasing an additional 100 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

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.