Armstrong World Industries’ (AWI) “Hold” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their hold rating on shares of Armstrong World Industries Inc (NYSE:AWI) in a report issued on Wednesday. They currently have a $55.00 price objective on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. SunTrust Banks, Inc. reiterated a buy rating and issued a $55.00 price objective on shares of Armstrong World Industries in a report on Wednesday, November 1st. KeyCorp reiterated a hold rating on shares of Armstrong World Industries in a report on Tuesday, October 24th. Citigroup Inc. upped their price objective on shares of Armstrong World Industries from $52.00 to $58.00 and gave the stock a neutral rating in a report on Friday, October 20th. BidaskClub cut shares of Armstrong World Industries from a hold rating to a sell rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG upped their price objective on shares of Armstrong World Industries from $52.00 to $53.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $50.33.

Armstrong World Industries (AWI) opened at $50.40 on Wednesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.41 and a current ratio of 1.98. Armstrong World Industries has a fifty-two week low of $38.45 and a fifty-two week high of $54.45. The company has a market cap of $2,652.37, a price-to-earnings ratio of 19.36, a PEG ratio of 1.49 and a beta of 1.73.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The company had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $357.29 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. sell-side analysts predict that Armstrong World Industries will post 2.84 earnings per share for the current year.

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Armstrong World Industries declared that its board has authorized a share buyback program on Monday, October 30th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its position in Armstrong World Industries by 0.3% during the 2nd quarter. Citigroup Inc. now owns 43,522 shares of the construction company’s stock worth $2,003,000 after acquiring an additional 149 shares during the last quarter. Amalgamated Bank lifted its position in Armstrong World Industries by 3.2% during the 1st quarter. Amalgamated Bank now owns 6,666 shares of the construction company’s stock worth $307,000 after acquiring an additional 204 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Armstrong World Industries by 14.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after acquiring an additional 286 shares during the last quarter. Arlington Value Capital LLC lifted its position in Armstrong World Industries by 1.3% during the 2nd quarter. Arlington Value Capital LLC now owns 39,471 shares of the construction company’s stock worth $1,815,000 after acquiring an additional 500 shares during the last quarter. Finally, NGAM Advisors L.P. lifted its position in Armstrong World Industries by 0.5% during the 2nd quarter. NGAM Advisors L.P. now owns 146,444 shares of the construction company’s stock worth $6,737,000 after acquiring an additional 754 shares during the last quarter.

About Armstrong World Industries

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.

Analyst Recommendations for Armstrong World Industries (NYSE:AWI)

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