Truist Financial Increases Armstrong World Industries (NYSE:AWI) Price Target to $175.00

Armstrong World Industries (NYSE:AWI - Free Report) had its price objective upped by Truist Financial from $162.00 to $175.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Other analysts also recently issued research reports about the stock. Evercore ISI upped their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. UBS Group boosted their price target on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Loop Capital increased their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Armstrong World Industries has an average rating of "Hold" and a consensus price target of $153.33.

Armstrong World Industries Price Performance

AWI stock traded down $1.65 during trading on Thursday, reaching $152.01. 383,367 shares of the company were exchanged, compared to its average volume of 241,923. Armstrong World Industries has a 52-week low of $110.68 and a 52-week high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The company has a market cap of $6.63 billion, a P/E ratio of 26.81, a PEG ratio of 1.60 and a beta of 1.19. The stock's 50 day moving average price is $148.07 and its 200 day moving average price is $142.73.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm had revenue of $367.70 million during the quarter, compared to analysts' expectations of $364.98 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. Armstrong World Industries's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, analysts predict that Armstrong World Industries will post 6.18 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, March 6th. Armstrong World Industries's payout ratio is currently 20.40%.

Institutional Investors Weigh In On Armstrong World Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Investment Advisors LLC acquired a new position in shares of Armstrong World Industries during the 4th quarter valued at $75,242,000. Norges Bank acquired a new stake in shares of Armstrong World Industries in the 4th quarter valued at about $71,822,000. Adage Capital Partners GP L.L.C. lifted its stake in Armstrong World Industries by 140.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 666,000 shares of the construction company's stock worth $94,126,000 after purchasing an additional 389,000 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Armstrong World Industries by 267.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 532,602 shares of the construction company's stock worth $75,273,000 after acquiring an additional 387,537 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Armstrong World Industries by 25.4% during the 4th quarter. Invesco Ltd. now owns 507,843 shares of the construction company's stock worth $71,773,000 after buying an additional 102,895 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.