UPDATE: Barclays Downgrades Armstrong World Industries (AWI) to Equalweight; Constrained Remodeling Demand
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Price: $53.19 -0.73%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade AWI Now!
(Updated - August 20, 2012 12:22 PM EDT)
Barclays downgraded Armstrong World Industries (NYSE: AWI) from Overweight to Equalweight with a price target of $48.00 (from $50.00).
Analyst, Stephen Kim, said, "We are moderating our near-term outlook on the Building Products stocks, particularly to the degree that they are exposed to discretionary remodeling activity. Despite mounting evidence that increased home buying is driving a positive feedback loop in housing markets across the country, this strength has not extended to the remodeling sector to the degree we had expected."
Kim remains more positive on a long-term basis, citing an eventual recovery restoring confidence in discretionary remodeling.
For an analyst ratings summary and ratings history on Armstrong World Industries click here. For more ratings news on Armstrong World Industries click here.
Shares of Armstrong World Industries closed at $43.43 yesterday, with a 52 week range of $32.82-$59.78.
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Barclays downgraded Armstrong World Industries (NYSE: AWI) from Overweight to Equalweight with a price target of $48.00 (from $50.00).
Analyst, Stephen Kim, said, "We are moderating our near-term outlook on the Building Products stocks, particularly to the degree that they are exposed to discretionary remodeling activity. Despite mounting evidence that increased home buying is driving a positive feedback loop in housing markets across the country, this strength has not extended to the remodeling sector to the degree we had expected."
Kim remains more positive on a long-term basis, citing an eventual recovery restoring confidence in discretionary remodeling.
For an analyst ratings summary and ratings history on Armstrong World Industries click here. For more ratings news on Armstrong World Industries click here.
Shares of Armstrong World Industries closed at $43.43 yesterday, with a 52 week range of $32.82-$59.78.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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