Brokerages forecast that Armstrong World Industries Inc (NYSE:AWI) will report sales of $317.52 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Armstrong World Industries’ earnings, with the highest sales estimate coming in at $317.70 million and the lowest estimate coming in at $317.33 million. Armstrong World Industries reported sales of $297.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.6%. The business is scheduled to report its next earnings results on Monday, February 26th.

According to Zacks, analysts expect that Armstrong World Industries will report full year sales of $317.52 million for the current financial year. For the next year, analysts expect that the business will report sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Armstrong World Industries.

AWI has been the topic of several research analyst reports. Citigroup 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 research note on Friday, October 20th. KeyCorp reiterated a “hold” rating on shares of Armstrong World Industries in a research report on Tuesday, October 24th. SunTrust Banks reiterated a “buy” rating and set a $55.00 target price on shares of Armstrong World Industries in a research report on Wednesday, November 1st. Royal Bank of Canada reiterated a “hold” rating and set a $55.00 target price on shares of Armstrong World Industries in a research report on Wednesday, November 15th. Finally, Nomura set a $65.00 target price on shares of Armstrong World Industries and gave the stock a “buy” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.

In other news, SVP Ellen R. Romano sold 33,087 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total transaction of $1,809,197.16. Following the transaction, the senior vice president now directly owns 14,769 shares in the company, valued at $807,568.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AWI. JPMorgan Chase & Co. lifted its holdings 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 during the period. Cerebellum GP LLC acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $129,000. Victory Capital Management Inc. acquired a new position in Armstrong World Industries in the third quarter valued at approximately $193,000. State of Alaska Department of Revenue acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $193,000. Finally, First National Bank Sioux Falls acquired a new position in Armstrong World Industries in the fourth quarter valued at approximately $214,000.

Shares of Armstrong World Industries (AWI) traded up $0.65 during trading on Thursday, reaching $59.15. 514,530 shares of the company’s stock traded hands, compared to its average volume of 396,436. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market capitalization of $3,128.38, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.63 and a beta of 1.73. Armstrong World Industries has a 1 year low of $39.10 and a 1 year high of $64.60.

Armstrong World Industries declared that its Board of Directors has initiated a share buyback program on Monday, October 30th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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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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