Armstrong World Industries (NYSE:AWI) Given New $145.00 Price Target at Loop Capital

Armstrong World Industries (NYSE:AWI) had its target price raised by Loop Capital from $135.00 to $145.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a hold rating on the construction company’s stock.

A number of other research firms also recently weighed in on AWI. Truist Financial increased their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average target price of $140.83.

Armstrong World Industries Stock Up 0.2 %

Shares of NYSE:AWI opened at $140.33 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $6.14 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 52-week low of $74.37 and a 52-week high of $143.07. The stock’s fifty day simple moving average is $131.30 and its 200-day simple moving average is $122.40.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio is currently 23.12%.

Institutional Investors Weigh In On Armstrong World Industries

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Armstrong World Industries by 5.9% in the 3rd quarter. Blue Trust Inc. now owns 1,428 shares of the construction company’s stock worth $188,000 after acquiring an additional 79 shares during the period. US Bancorp DE boosted its stake in shares of Armstrong World Industries by 13.9% in the third quarter. US Bancorp DE now owns 672 shares of the construction company’s stock valued at $88,000 after purchasing an additional 82 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Armstrong World Industries by 41.0% in the second 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 during the period. CWM LLC grew its holdings in Armstrong World Industries by 17.3% during 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 increased its stake in Armstrong World Industries by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the construction company’s stock worth $2,491,000 after buying an additional 100 shares during the period. 98.93% of the stock is currently owned by hedge funds and other 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.