KeyBanc Downgrades Armstrong World Industries (AWI) to Hold; Profits on Upward Trend Amid Low Growth

March 16, 2012 7:20 AM EDT Send to a Friend
Get Alerts AWI Hot Sheet
Price: $49.81 -0.18%

Rating Summary:
    6 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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KeyBanc downgraded Armstrong World Industries (NYSE: AWI) from Buy to Hold.

KeyBanc analyst said, "We downgrade Armstrong to HOLD with shares fully valued, reflecting 17% EBITDA growth in 2012 and 14% in 2013. We think cost savings and price remain effective tools for growing profits despite continued input inflation, but we see limited upside to our estimates until meaningful improvement is seen in its nonresidential end markets. AWI shares trade at 7.4x our unchanged 2013 EBITDA of $502 million vs. our prior 7.1x target multiple."

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 $57.13 yesterday.


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