Armstrong World Industries Inc (AWI) Rating Lowered to Sell at Zacks Investment Research

Armstrong World Industries Inc (NYSE:AWI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Armstrong World projects 2017 sales to be in the $1.29–$1.32 billion range and adjusted earnings between $2.60 and $2.70 per share. Quarter-to-date, the stock has underperformed the Zacks categorized sub industry. The underlying fundamentals for repair and remodel (R&R) activity remain uneven as demand is projected to be limited. This will likely result in choppy R&R activity from quarter to quarter. Moreover, emerging markets will be impacted by lower commodity prices.”

Several other equities research analysts also recently issued reports on AWI. ValuEngine raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Armstrong World Industries in a research note on Thursday, June 15th. Instinet lifted their price target on shares of Armstrong World Industries from $20.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Finally, Nomura initiated coverage on shares of Armstrong World Industries in a research note on Wednesday, April 12th. They set a “buy” rating and a $55.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.63.

Armstrong World Industries (NYSE:AWI) traded up 0.721% during mid-day trading on Monday, hitting $45.425. The stock had a trading volume of 60,237 shares. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 17.418 and a beta of 1.63. The company has a 50 day moving average price of $44.04 and a 200-day moving average price of $43.52. Armstrong World Industries has a one year low of $36.38 and a one year high of $48.00.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Monday, May 1st. The construction company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $315.40 million for the quarter, compared to analyst estimates of $298.69 million. Armstrong World Industries had a net margin of 11.48% and a return on equity of 51.25%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Equities analysts expect that Armstrong World Industries will post $2.68 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Armstrong World Industries by 83.2% in the fourth quarter. FMR LLC now owns 838,773 shares of the construction company’s stock valued at $35,061,000 after buying an additional 380,903 shares during the period. Envestnet Asset Management Inc. increased its stake in Armstrong World Industries by 215.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,568 shares of the construction company’s stock valued at $317,000 after buying an additional 5,171 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Armstrong World Industries during the fourth quarter valued at $665,000. Franklin Resources Inc. increased its stake in Armstrong World Industries by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 106,787 shares of the construction company’s stock valued at $4,464,000 after buying an additional 9,512 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Armstrong World Industries during the fourth quarter valued at $1,837,000.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.

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