Armstrong World Industries (NYSE:AWI) Shares Up 7.8%

Armstrong World Industries Inc (NYSE:AWI) shot up 7.8% during trading on Tuesday . The stock traded as high as $73.03 and last traded at $72.20, 351,258 shares changed hands during trading. A decline of 19% from the average session volume of 435,477 shares. The stock had previously closed at $66.97.

AWI has been the subject of a number of research reports. Loop Capital upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating and cut their target price for the stock from $95.00 to $83.00 in a research report on Tuesday, March 17th. SunTrust Banks boosted their price target on shares of Armstrong World Industries to $120.00 and gave the company a “positive” rating in a research report on Tuesday, February 25th. BNP Paribas upgraded shares of Armstrong World Industries from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 21st. Goldman Sachs Group began coverage on shares of Armstrong World Industries in a report on Friday, December 6th. They issued a “buy” rating and a $112.00 price objective for the company. Finally, ValuEngine upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $103.40.

The firm has a market cap of $3.21 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $96.15 and a two-hundred day simple moving average of $96.61.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Monday, February 24th. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.25. Armstrong World Industries had a net margin of 20.66% and a return on equity of 76.46%. The company had revenue of $246.90 million during the quarter, compared to analyst estimates of $255.35 million. During the same period last year, the business earned $0.80 earnings per share. Armstrong World Industries’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Armstrong World Industries Inc will post 5.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Thursday, March 5th were issued a $0.20 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Armstrong World Industries’s payout ratio is currently 16.74%.

Hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can bought a new position in shares of Armstrong World Industries in the fourth quarter worth approximately $1,058,000. Tower Research Capital LLC TRC bought a new position in shares of Armstrong World Industries in the 4th quarter worth $72,000. GQ Asset Management LLC bought a new position in shares of Armstrong World Industries in the 3rd quarter worth $103,000. Voloridge Investment Management LLC raised its position in shares of Armstrong World Industries by 10.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 23,119 shares of the construction company’s stock valued at $2,236,000 after buying an additional 2,198 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Armstrong World Industries by 26.8% during the 4th quarter. Diversified Trust Co now owns 35,370 shares of the construction company’s stock valued at $3,324,000 after buying an additional 7,480 shares in the last quarter.

Armstrong World Industries Company Profile (NYSE:AWI)

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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