Armstrong World Industries (NYSE:AWI) Now Covered by Analysts at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Armstrong World Industries (NYSE:AWI) in a research report released on Friday, Benzinga reports. The brokerage issued a buy rating and a $112.00 price target on the construction company’s stock.

A number of other research analysts also recently issued reports on AWI. Zacks Investment Research upgraded Armstrong World Industries from a sell rating to a hold rating and set a $99.00 price objective for the company in a report on Tuesday, October 29th. Exane BNP Paribas began coverage on Armstrong World Industries in a research report on Wednesday, October 9th. They set an underperform rating for the company. ValuEngine cut shares of Armstrong World Industries from a hold rating to a sell rating in a research note on Tuesday. Finally, BNP Paribas assumed coverage on shares of Armstrong World Industries in a report on Wednesday, October 9th. They issued an underperform rating on the stock. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Armstrong World Industries has a consensus rating of Hold and an average price target of $101.51.

Shares of NYSE:AWI traded up $1.28 during midday trading on Friday, reaching $94.52. 330,827 shares of the company were exchanged, compared to its average volume of 436,269. The firm has a market cap of $4.59 billion, a PE ratio of 25.83, a P/E/G ratio of 1.34 and a beta of 1.59. Armstrong World Industries has a fifty-two week low of $54.34 and a fifty-two week high of $104.50. The stock has a fifty day simple moving average of $96.29 and a two-hundred day simple moving average of $95.70. The company has a quick ratio of 1.60, a current ratio of 2.09 and a debt-to-equity ratio of 1.77.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Monday, October 28th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.08. Armstrong World Industries had a return on equity of 78.13% and a net margin of 19.55%. The firm had revenue of $277.10 million during the quarter, compared to analysts’ expectations of $289.93 million. During the same quarter in the prior year, the company earned $1.11 EPS. The company’s revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that Armstrong World Industries will post 4.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.85%. The ex-dividend date was Wednesday, November 6th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.18. Armstrong World Industries’s dividend payout ratio is presently 21.86%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Usca Ria LLC acquired a new position in shares of Armstrong World Industries during the 3rd quarter worth approximately $30,000. Ropes Wealth Advisors LLC acquired a new position in Armstrong World Industries during the second quarter worth $49,000. SRS Capital Advisors Inc. acquired a new position in Armstrong World Industries during the second quarter worth $65,000. GQ Asset Management LLC bought a new stake in Armstrong World Industries during the third quarter worth $103,000. Finally, Point72 Hong Kong Ltd bought a new stake in Armstrong World Industries during the second quarter worth $180,000.

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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Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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