The Goldman Sachs Group Forecasts Strong Price Appreciation for Armstrong World Industries (NYSE:AWI) Stock

Armstrong World Industries (NYSE:AWI) had its price objective raised by The Goldman Sachs Group from $163.00 to $180.00 in a research note published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

A number of other brokerages also recently commented on AWI. StockNews.com downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial upped their price objective on Armstrong World Industries from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group lifted their target price on Armstrong World Industries from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Armstrong World Industries has an average rating of “Hold” and an average price target of $153.33.

Armstrong World Industries Price Performance

AWI stock opened at $153.44 on Friday. 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’s fifty day moving average price is $148.07 and its 200-day moving average price is $142.41. Armstrong World Industries has a one year low of $110.68 and a one year high of $164.40. The company has a market capitalization of $6.69 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

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

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, March 6th. Armstrong World Industries’s payout ratio is currently 20.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in shares of Armstrong World Industries during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in Armstrong World Industries in the 4th quarter valued at $32,000. Quent Capital LLC increased its stake in Armstrong World Industries by 288.1% in the fourth quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after purchasing an additional 170 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Armstrong World Industries during the fourth quarter worth $33,000. Finally, Twin Tree Management LP purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at $43,000. Institutional investors own 98.93% of the company’s stock.

Armstrong World Industries Company Profile

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.