Goldman Sachs Downgrades Armstrong World Industries to Sell with Price Target $34.00

Brokerage firm Goldman Sachs Downgrades its rating on Armstrong World Industries(NYSE:AWI). In a research note issued to the investors, the brokerage major Lowers the price-target to $34.00 per share. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Jul 12, 2016.

In a different note, On May 16, 2016, Piper Jaffray said it Assumes its rating on Armstrong World Industries. The shares have been rated ‘Neutral’ by the firm. On May 16, 2016, Citigroup said it Maintains its rating on Armstrong World Industries. In the research note, the firm Raises the price-target to $36.40 per share. The shares have been rated ‘Neutral’ by the firm. On May 16, 2016, JP Morgan said it Maintains its rating on Armstrong World Industries. In the research note, the firm Lowers the price-target to $50.00 per share. The shares have been rated ‘Neutral’ by the firm.

Armstrong World Industries (AWI) made into the market gainers list on Fridays trading session with the shares advancing 0.16% or 0.06 points. Due to strong positive momentum, the stock ended at $38.51, which is also near the day’s high of $38.68. The stock began the session at $38.65 and the volume stood at 5,16,979 shares. The 52-week high of the shares is $52.604576 and the 52 week low is $31.129429. The company has a current market capitalization of $2,137 M and it has 5,54,81,159 shares in outstanding.

Armstrong World Industries(AWI) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $571.80M. Analysts had an estimated revenue of $562.43M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On Aug 19, 2015, Stephen F Mcnamara (Vice President and Controller) sold 2,000 shares at $60.15 per share price.Also, On May 28, 2015, World Industries, In Armstrong (10% owner) sold 1,541,940 shares at $56.03 per share price.

Armstrong World Industries Inc. is a producer of flooring products and ceiling systems for use in the construction and renovation of residential commercial and institutional buildings. The Company operates in four segments: Building Products which produces suspended mineral fiber soft fiber and metal ceiling systems for use in commercial institutional and residential settings; Resilient Flooring which produces and sources a range of floor coverings for homes and commercial and institutional buildings and Wood Flooring segment produces and sources wood flooring products for use in new residential construction and renovation with commercial applications in stores restaurants and high-end offices. Its brands include Armstrong Alterna BBT BioBased Tile BioGuard Bruce Cirrus Dune Excelon Huiyi Imperial Initiator Laurel Luxe Plank Medintech MetalWorks Optima Perla Plano Stonetex Station Square ToughGuard Ultima and WoodWorks among others.

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