Armstrong Flooring (AFI) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a report issued 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. “

Several other brokerages have also weighed in on AFI. TheStreet upgraded Armstrong Flooring from a d+ rating to a c- rating in a report on Tuesday, November 28th. SunTrust Banks restated a hold rating and issued a $15.00 price objective on shares of Armstrong Flooring in a report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average price target of $23.33.

Shares of Armstrong Flooring (NYSE:AFI) traded up $0.07 during mid-day 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 quick ratio of 0.98, a current ratio of 2.66 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a one year low of $13.32 and a one year high of $22.96. The firm has a market cap of $430.90 and a price-to-earnings ratio of -19.48.

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

Several institutional investors have recently made changes to their positions in AFI. Oppenheimer Asset Management Inc. lifted its holdings in shares of Armstrong Flooring by 138.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,800 shares of the construction company’s stock valued at $158,000 after buying an additional 5,102 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Armstrong Flooring by 13.7% in the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock valued at $231,000 after buying an additional 1,551 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Armstrong Flooring in the second quarter valued at $330,000. KBC Group NV lifted its holdings in shares of Armstrong Flooring by 17.7% in the third quarter. KBC Group NV now owns 21,966 shares of the construction company’s stock valued at $346,000 after buying an additional 3,303 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Armstrong Flooring by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock valued at $351,000 after buying an additional 1,056 shares during the period. Institutional investors and hedge funds own 98.53% of the company’s stock.

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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.

Analyst Recommendations for Armstrong Flooring (NYSE:AFI)

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