Armstrong World Industries(AWI) ZACKS·2024-10-31 17:00Core Viewpoint - Armstrong World Industries (AWI) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, with institutional investors playing a role in this relationship [4]. - For the fiscal year ending December 2024, Armstrong World Industries is projected to earn $6.11 per share, reflecting a 14.9% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Armstrong World Industries has risen by 2%, indicating a positive trend in earnings expectations [8]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating, suggesting superior earnings estimate revisions [9][10]. - The upgrade of Armstrong World Industries to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating potential for market-beating returns in the near term [10].