Zacks Investment Research Lowers Armstrong Flooring (AFI) to Hold

Zacks Investment Research cut shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Armstrong Flooring, Inc. is engaged in the design and manufacture of flooring solutions primarily in North America. Armstrong Flooring, Inc. is headquatered in Lancaster, Pa. “

Other equities analysts also recently issued research reports about the company. TheStreet raised Armstrong Flooring from a d+ rating to a c- rating in a research report on Tuesday, November 28th. SunTrust Banks reissued a hold rating and set a $15.00 price target on shares of Armstrong Flooring in a research report on Friday, November 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Armstrong Flooring presently has a consensus rating of Hold and an average target price of $23.33.

Shares of Armstrong Flooring (NYSE:AFI) traded up $0.07 during trading on Wednesday, reaching $16.75. The company’s stock had a trading volume of 65,530 shares, compared to its average volume of 154,699. The company has a market cap of $430.90 and a P/E ratio of -19.48. The company has a quick ratio of 0.98, a current ratio of 2.66 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a 12 month low of $13.32 and a 12 month high of $22.96.

Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings data on Monday, November 6th. The construction company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.07). The business had revenue of $308.50 million during the quarter, compared to the consensus estimate of $294.68 million. Armstrong Flooring had a negative net margin of 2.40% and a positive return on equity of 1.06%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. equities analysts anticipate that Armstrong Flooring will post 0.15 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of AFI. Wells Fargo & Company MN grew its position in shares of Armstrong Flooring by 3,131.5% during the 2nd quarter. Wells Fargo & Company MN now owns 512,971 shares of the construction company’s stock worth $9,219,000 after buying an additional 497,097 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Armstrong Flooring by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,652,697 shares of the construction company’s stock worth $29,699,000 after buying an additional 217,579 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Armstrong Flooring by 12.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,530,905 shares of the construction company’s stock worth $24,112,000 after buying an additional 169,315 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Armstrong Flooring by 20.8% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 720,540 shares of the construction company’s stock worth $12,948,000 after buying an additional 124,060 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in shares of Armstrong Flooring by 636.2% during the 3rd quarter. Citadel Advisors LLC now owns 135,223 shares of the construction company’s stock worth $2,130,000 after buying an additional 116,856 shares in the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Week Herald and is owned by of Week Herald. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://weekherald.com/2018/01/14/zacks-investment-research-lowers-armstrong-flooring-afi-to-hold.html.

About Armstrong Flooring

Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.

Get a free copy of the Zacks research report on Armstrong Flooring (AFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Armstrong Flooring (NYSE:AFI)

Receive News & Ratings for Armstrong Flooring Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong Flooring and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply