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

Armstrong World Industries (NYSE:AWI - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

A number of other equities analysts have also recently weighed in on AWI. UBS Group upped their price objective on shares of Armstrong World Industries from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group increased their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Truist Financial lifted their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Armstrong World Industries currently has an average rating of "Hold" and a consensus target price of $153.33.

Armstrong World Industries Stock Down 2.6 %

Shares of NYSE:AWI traded down $3.93 during mid-day trading on Thursday, hitting $148.64. 331,436 shares of the company traded hands, compared to its average volume of 245,071. The firm's 50 day simple moving average is $148.51 and its 200 day simple moving average is $143.19. The firm has a market cap of $6.46 billion, a P/E ratio of 26.21, a PEG ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. Armstrong World Industries has a 52-week low of $110.68 and a 52-week high of $164.40.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.13. The company had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The business's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities analysts anticipate that Armstrong World Industries will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in Armstrong World Industries by 16.0% during the third quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company's stock worth $64,678,000 after purchasing an additional 67,798 shares during the last quarter. Quest Partners LLC lifted its position in shares of Armstrong World Industries by 32.9% in the 3rd quarter. Quest Partners LLC now owns 19,971 shares of the construction company's stock worth $2,625,000 after buying an additional 4,945 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Armstrong World Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 851,620 shares of the construction company's stock valued at $111,954,000 after buying an additional 34,028 shares during the period. BNP Paribas Financial Markets grew its position in shares of Armstrong World Industries by 89.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,011 shares of the construction company's stock valued at $1,447,000 after buying an additional 5,191 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Armstrong World Industries during the 3rd quarter valued at about $1,035,000. Institutional investors and hedge funds own 98.93% of the company's stock.

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.