Armstrong World Industries, Inc. (NYSE:AWI) Sees Large Increase in Short Interest

Armstrong World Industries, Inc. (NYSE:AWI) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 540,500 shares, a growth of 12.4% from the December 31st total of 480,800 shares. Based on an average daily volume of 204,500 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.3% of the company’s stock are sold short.

Armstrong World Industries Price Performance

Armstrong World Industries stock traded down $1.47 during mid-day trading on Monday, hitting $149.54. The company’s stock had a trading volume of 240,101 shares, compared to its average volume of 196,902. The stock has a market capitalization of $6.52 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.64 and a beta of 1.19. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock’s fifty day moving average price is $149.41 and its two-hundred day moving average price is $139.16. Armstrong World Industries has a twelve month low of $99.63 and a twelve month high of $164.40.

Hedge Funds Weigh In On Armstrong World Industries

Institutional investors have recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in shares of Armstrong World Industries in the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Armstrong World Industries during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of Armstrong World Industries in the fourth quarter valued at about $32,000. Quent Capital LLC lifted its holdings in shares of Armstrong World Industries by 288.1% during the 4th quarter. Quent Capital LLC now owns 229 shares of the construction company’s stock worth $32,000 after acquiring an additional 170 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in Armstrong World Industries during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

AWI has been the topic of a number of recent analyst reports. Loop Capital increased their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Armstrong World Industries presently has a consensus rating of “Hold” and a consensus price target of $140.83.

About Armstrong World Industries

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.