Armstrong World Industries Inc (NYSE:AWI) released its quarterly earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04, Bloomberg Earnings reports. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. The company had revenue of $330.80 million during the quarter, compared to the consensus estimate of $330.92 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Armstrong World Industries updated its FY17 guidance to $2.65-2.75 EPS.
Armstrong World Industries (AWI) opened at 46.45 on Thursday. The firm’s 50-day moving average is $45.64 and its 200 day moving average is $44.37. The firm has a market capitalization of $2.46 billion, a P/E ratio of 15.09 and a beta of 1.65. Armstrong World Industries has a 12 month low of $36.38 and a 12 month high of $49.55.
Several hedge funds have recently bought and sold shares of AWI. JPMorgan Chase & Co. raised its position in Armstrong World Industries by 14.1% in the second quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock valued at $106,000 after buying an additional 286 shares in the last quarter. Invictus RG purchased a new stake in shares of Armstrong World Industries during the first quarter worth about $117,000. Bank of Montreal Can raised its stake in shares of Armstrong World Industries by 7.1% in the first quarter. Bank of Montreal Can now owns 2,652 shares of the construction company’s stock worth $122,000 after buying an additional 175 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Armstrong World Industries by 239.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock worth $128,000 after buying an additional 1,964 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Armstrong World Industries during the second quarter worth $149,000.
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AWI has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Deutsche Bank AG lifted their price target on shares of Armstrong World Industries from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Instinet restated a “buy” rating and set a $55.00 price objective on shares of Armstrong World Industries in a research report on Friday, April 14th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Armstrong World Industries in a research report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Armstrong World Industries currently has an average rating of “Hold” and an average price target of $45.43.
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.
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