Latest Stocks: Armstrong World Industries Inc (AWI) Upgraded at Zacks Investment Research

Latest Stocks: Armstrong World Industries Inc (AWI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Armstrong World Industries Inc (NYSE:AWI) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $47.00 price objective on the construction company’s stock.

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, both up from 2016 levels. It was recently selected to provide ceiling solutions for the Metropolitan Transportation Authority's East Side Access megaproject, the largest transportation construction project underway in the U.S. Further, the company has acquired Tectum to expand its leading portfolio of durable, sustainable and acoustical solutions. Improvement in AUV, broad-based recovery in non-residential markets, innovation in product pipeline along with share buybacks will aid growth. The company has a positive record of earnings surprises in the past few quarters. Its estimates have also gone up recently.”

AWI has been the topic of several other reports. Royal Bank of Canada reissued a hold rating and set a $50.00 target price on shares of Armstrong World Industries in a research note on Tuesday, February 28th. Instinet increased their target price 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 started coverage on shares of Armstrong World Industries in a research note on Wednesday, April 12th. They set a buy rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Armstrong World Industries has a consensus rating of Hold and an average price target of $43.38.

AWI has been the topic of several other reports. Royal Bank of Canada reissued a hold rating and set a $50.00 target price on shares of Armstrong World Industries in a research note on Tuesday, February 28th. Instinet increased their target price 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 started coverage on shares of Armstrong World Industries in a research note on Wednesday, April 12th. They set a buy rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Armstrong World Industries has a consensus rating of Hold and an average price target of $43.38. Shares of Armstrong World Industries (NYSE:AWI) opened at 45.00 on Thursday. The company’s 50 day moving average is $45.00 and its 200-day moving average is $43.22. Armstrong World Industries has a one year low of $36.33 and a one year high of $48.00. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.25 and a beta of 1.38.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its position in Armstrong World Industries by 20.4% in the first quarter. Iridian Asset Management LLC CT now owns 4,413,715 shares of the construction company’s stock valued at $203,252,000 after buying an additional 746,618 shares during the last quarter. Vanguard Group Inc. increased its position in Armstrong World Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,440,487 shares of the construction company’s stock valued at $158,435,000 after buying an additional 165,841 shares during the last quarter. BlackRock Inc. increased its position in Armstrong World Industries by 10,381.5% in the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after buying an additional 1,904,378 shares during the last quarter. Fiduciary Management Inc. WI increased its position in Armstrong World Industries by 6.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,875,741 shares of the construction company’s stock valued at $86,378,000 after buying an additional 114,960 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Armstrong World Industries by 5.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,522,337 shares of the construction company’s stock valued at $70,104,000 after buying an additional 77,824 shares during the last quarter. About Armstrong World Industries

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