Bank of America Initiates Coverage on Armstrong World Industries to Underperform

Bank of America Initiates Coverage on Armstrong World Industries(NYSE:AWI). The shares have been rated Underperform. The rating by Bank of America was issued on Sep 23, 2016.

In a different note, On Aug 5, 2016, KeyBanc said it Upgrades its rating on Armstrong World Industries. The shares have been rated ‘Overweight’ by the firm. On Aug 1, 2016, Citigroup said it Maintains its rating on Armstrong World Industries. In the research note, the firm Lowers the price-target to $46.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 12, 2016, Goldman Sachs said it Downgrades its rating on Armstrong World Industries. In the research note, the firm Lowers the price-target to $38.00 per share. The shares have been rated ‘Sell’ by the firm.

Armstrong World Industries (AWI) shares turned negative on Tuesdays trading session with the shares closing down -0.3 points or -0.73% at a volume of 5,43,505. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $41.37. The peak price level was also seen at $41.37 while the days lowest was $40.79. Finally the shares closed at $41. The 52-week high of the shares is $45.75 while the 52-week low is $31.129429. According to the latest information available, the market cap of the company is $2,275 M.

Armstrong World Industries(AWI) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $314.30M. Analysts had an estimated revenue of $311.79M. Earnings per share were $0.56. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, Stephen F Mcnamara (Vice President and Controller) sold 2,274 shares at $45.00 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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