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Downgrade Alert for Armstrong World Industries (AWI)

By James Quinn

Armstrong World Industries (NYSE:AWI) was downgraded from Neutral to Sell at Goldman Sachs today. The stock closed yesterday at $40.21 on volume of 449,000 shares, below average daily volume of 553,000.

In the past 52 weeks, shares of Armstrong World Industries have traded between a low of $35.92 and a high of $60.70 and closed yesterday at $40.20, which is 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.5%.

There is potential upside of 45.1% for shares of Armstrong World Industries based on a current price of $40.20 and an average consensus analyst price target of $58.32. The stock should find initial resistance at its 50-day moving average (MA) of $42.70 and further resistance at its 200-day MA of $47.13.

Armstrong World Industries, Inc. designs and manufactures floors, ceilings, and cabinets in the United States and other countries around the world.

SmarTrend recommended that its subscribers protect gains by selling shares of Armstrong World Industries on April 4th, 2016 by issuing a Downtrend alert when the shares were trading at $42.09. Since that call, shares of Armstrong World Industries have fallen 6.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades armstrong world industries

Ticker(s): AWI