Zacks Investment Research downgraded shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a report issued on Tuesday.
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. “
A number of other brokerages also recently commented on AFI. Macquarie set a $18.00 price target on Armstrong Flooring and gave the company a hold rating in a research report on Friday, September 14th. Stifel Nicolaus reaffirmed a hold rating and set a $17.00 price target on shares of Armstrong Flooring in a research report on Thursday, August 9th. Finally, ValuEngine raised Armstrong Flooring from a sell rating to a hold rating in a research report on Wednesday, August 8th. Four analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and an average target price of $18.00.
Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. The company had revenue of $309.70 million during the quarter, compared to the consensus estimate of $313.82 million. Armstrong Flooring had a positive return on equity of 1.48% and a negative net margin of 3.46%. Armstrong Flooring’s revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $0.20 earnings per share. On average, equities research analysts predict that Armstrong Flooring will post 0.43 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in AFI. Nisa Investment Advisors LLC purchased a new stake in Armstrong Flooring in the second quarter worth $114,000. Oppenheimer Asset Management Inc. purchased a new stake in Armstrong Flooring in the second quarter worth $141,000. Hartford Investment Management Co. purchased a new stake in Armstrong Flooring in the second quarter worth $153,000. Cubist Systematic Strategies LLC purchased a new stake in Armstrong Flooring in the second quarter worth $153,000. Finally, Aperio Group LLC purchased a new stake in Armstrong Flooring in the second quarter worth $156,000. 96.11% of the stock is owned by institutional investors and hedge funds.
Armstrong Flooring Company Profile
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells flooring products in North America and the Pacific Rim. It operates through two segments, Resilient Flooring and Wood Flooring. The Resilient Flooring segment offers a range of floor coverings primarily for homes and commercial buildings under the Armstrong brand; and luxury vinyl tile products, vinyl tile flooring, vinyl sheet products, and laminate products, as well as installs and maintains materials and accessories.
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