ZWS - Armstrong World Industries: Shares Have Appreciated Enough
2024-06-18 15:11:51 ET
Summary
- Armstrong World Industries, Inc. has seen a significant upside since being upgraded to a 'buy', with shares rising by 58.2% compared to the S&P 500's 22.2% increase.
- The company reported positive revenue and profit growth in the first quarter of 2024, driven by higher prices and organic growth.
- Management expects continued growth, with revenue projected to increase by 8-11% this year and net profits expected to be between $253 million and $259 million.
- Even with this, further market-beating returns seem unlikely for Armstrong World Industries, Inc. stock right now.
Things have been going exceptionally well for a company known as Armstrong World Industries, Inc. ( AWI ). For those not familiar with the company, the firm is focused on the production of ceiling systems and other similar offerings. Back in October of last year, I wrote an article about the firm wherein I upgraded it from a "hold" to a "buy" after seeing shares underperform the broader market for some time. That underperformance, combined with improved revenue and profits, led me to be optimistic about upside potential eventually occurring....
Armstrong World Industries: Shares Have Appreciated Enough