Armstrong World Industries (AWI) Receives “Buy” Rating from SunTrust Banks

Armstrong World Industries (NYSE:AWI)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks in a research report issued on Tuesday, April 30th, The Fly reports. They currently have a $95.00 price target on the construction company’s stock. SunTrust Banks’ price objective suggests a potential upside of 7.78% from the company’s previous close. SunTrust Banks also issued estimates for Armstrong World Industries’ Q2 2019 earnings at $1.16 EPS, Q3 2019 earnings at $1.28 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $4.50 EPS, Q1 2020 earnings at $1.17 EPS, Q2 2020 earnings at $1.28 EPS, Q3 2020 earnings at $1.44 EPS, Q4 2020 earnings at $1.14 EPS and FY2020 earnings at $5.03 EPS.

Several other research analysts have also recently weighed in on the company. KeyCorp increased their price objective on Armstrong World Industries from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Bank of America upgraded Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, January 4th. ValuEngine upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, Zelman & Associates upgraded Armstrong World Industries from a “sell” rating to a “hold” rating and set a $73.05 price objective on the stock in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $83.01.

Armstrong World Industries stock traded down $1.01 during mid-day trading on Tuesday, hitting $88.14. 251,815 shares of the company’s stock traded hands, compared to its average volume of 499,627. Armstrong World Industries has a fifty-two week low of $54.34 and a fifty-two week high of $89.63. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.19 and a beta of 1.85. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.27 and a quick ratio of 1.15.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.15. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. The business had revenue of $242.10 million during the quarter, compared to the consensus estimate of $247.38 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Armstrong World Industries will post 4.56 earnings per share for the current fiscal year.

In related news, VP Stephen F. Mcnamara sold 7,778 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $87.26, for a total value of $678,708.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Holdings L.P. Valueact sold 456,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $73.25, for a total value of $33,402,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,259,188 shares of company stock worth $167,321,824 in the last quarter. Company insiders own 1.94% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AWI. Lazard Asset Management LLC increased its position in shares of Armstrong World Industries by 22.1% in the first quarter. Lazard Asset Management LLC now owns 5,801,842 shares of the construction company’s stock worth $460,782,000 after purchasing an additional 1,048,317 shares during the period. Norges Bank bought a new position in shares of Armstrong World Industries in the fourth quarter worth $36,692,000. FMR LLC increased its position in shares of Armstrong World Industries by 77.9% in the first quarter. FMR LLC now owns 1,426,367 shares of the construction company’s stock worth $113,282,000 after purchasing an additional 624,611 shares during the period. Millennium Management LLC increased its position in shares of Armstrong World Industries by 212.0% in the fourth quarter. Millennium Management LLC now owns 702,346 shares of the construction company’s stock worth $40,884,000 after purchasing an additional 477,235 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Armstrong World Industries by 213.7% in the first quarter. Goldman Sachs Group Inc. now owns 529,391 shares of the construction company’s stock worth $42,045,000 after purchasing an additional 360,649 shares during the period. Institutional investors own 98.10% of the company’s stock.

About Armstrong World Industries

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.

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