Armstrong Flooring (AFI) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Armstrong Flooring (NYSE:AFI) from a hold rating to a sell rating in a research note published on Friday morning.

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. “

Separately, Stifel Nicolaus dropped their target price on Armstrong Flooring from $15.00 to $13.00 and set a hold rating for the company in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Armstrong Flooring presently has an average rating of Hold and an average price target of $16.25.

Shares of NYSE:AFI opened at $13.33 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.59 and a quick ratio of 1.01. The stock has a market cap of $343.33 million, a P/E ratio of 133.30, a price-to-earnings-growth ratio of 2.51 and a beta of 2.33. Armstrong Flooring has a 12-month low of $12.03 and a 12-month high of $20.20.

Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings data on Tuesday, May 8th. The construction company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $257.90 million for the quarter, compared to analyst estimates of $263.24 million. Armstrong Flooring had a positive return on equity of 0.56% and a negative net margin of 3.94%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. sell-side analysts forecast that Armstrong Flooring will post 0.24 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Armstrong Flooring by 10.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,819,201 shares of the construction company’s stock valued at $28,653,000 after acquiring an additional 166,504 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Armstrong Flooring by 54.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 202,396 shares of the construction company’s stock valued at $3,188,000 after acquiring an additional 71,546 shares in the last quarter. Spark Investment Management LLC acquired a new position in Armstrong Flooring in the 4th quarter valued at about $3,903,000. Virtu Financial LLC acquired a new position in Armstrong Flooring in the 4th quarter valued at about $182,000. Finally, Fuller & Thaler Asset Management Inc. grew its position in Armstrong Flooring by 1.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 564,173 shares of the construction company’s stock valued at $9,546,000 after acquiring an additional 5,820 shares in the last quarter. 97.94% of the stock is owned by institutional investors.

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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