Armstrong Ind Receives a Hold from RBC Capital

By Austin Angelo

In a report released yesterday, Robert Wetenhall from RBC Capital reiterated a Hold rating on Armstrong Ind (NYSE: AWI), with a price target of $50. The company’s shares closed yesterday at $46.45.

According to TipRanks.com, Wetenhall is a 5-star analyst with an average return of 10.3% and a 65.9% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Advanced Drainage Systems.

Armstrong Ind has an analyst consensus of Hold, with a price target consensus of $50.

Based on Armstrong Ind’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $331 million and quarterly net profit of $41.4 million. In comparison, last year the company earned revenue of $315 million and had a net profit of $16.5 million.

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Armstrong World Industries, Inc. engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Americas; Europe, Middle east, and Africa; and Pacific Rim.