Armstrong Flooring (NYSE:AFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, January 10th.
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 analysts have also recently commented on the company. SunTrust Banks reiterated a “hold” rating and set a $15.00 price target on shares of Armstrong Flooring in a research report on Friday, November 3rd. TheStreet upgraded Armstrong Flooring from a “d+” rating to a “c-” rating in a research report on Tuesday, November 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $23.33.
Shares of Armstrong Flooring (NYSE:AFI) traded down $0.25 during mid-day trading on Wednesday, hitting $14.63. The stock had a trading volume of 15,459 shares, compared to its average volume of 69,309. The company has a current ratio of 2.66, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market cap of $382.79, a P/E ratio of 62.00 and a beta of 2.80. Armstrong Flooring has a twelve month low of $13.32 and a twelve month high of $22.96.
Armstrong Flooring (NYSE:AFI) last announced its earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ 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 period in the previous year, the company earned $0.43 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. research analysts forecast that Armstrong Flooring will post 0.15 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its position in Armstrong Flooring by 5.0% in the 3rd quarter. Nationwide Fund Advisors now owns 184,167 shares of the construction company’s stock valued at $2,901,000 after purchasing an additional 8,844 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Armstrong Flooring by 40.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,850 shares of the construction company’s stock valued at $2,352,000 after acquiring an additional 37,543 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Armstrong Flooring by 19.2% in the 2nd quarter. California Public Employees Retirement System now owns 60,250 shares of the construction company’s stock valued at $1,083,000 after acquiring an additional 9,700 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Armstrong Flooring by 4.5% in the 2nd quarter. Northern Trust Corp now owns 269,007 shares of the construction company’s stock valued at $4,835,000 after acquiring an additional 11,530 shares during the last quarter. Finally, OxFORD Asset Management LLP increased its holdings in shares of Armstrong Flooring by 117.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 56,477 shares of the construction company’s stock valued at $891,000 after acquiring an additional 30,466 shares during the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “Armstrong Flooring (AFI) Downgraded by Zacks Investment Research to Hold” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/05/armstrong-flooring-afi-lowered-to-hold-at-zacks-investment-research.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
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.