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

Armstrong Flooring (NYSE:AFI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.

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 analysts also recently weighed in on AFI. ValuEngine upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price target on shares of Armstrong Flooring in a research report on Thursday, August 9th. Macquarie set a $18.00 price target on shares of Armstrong Flooring and gave the company a “hold” rating in a research report on Friday, September 14th. Finally, Gabelli upgraded shares of Armstrong Flooring from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $19.25.

Shares of NYSE:AFI traded up $0.02 during mid-day trading on Monday, reaching $16.25. The stock had a trading volume of 14,423 shares, compared to its average volume of 178,181. The company has a market capitalization of $419.18 million, a price-to-earnings ratio of 77.38, a P/E/G ratio of 1.42 and a beta of 2.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.60 and a quick ratio of 1.05. Armstrong Flooring has a twelve month low of $12.03 and a twelve month high of $20.46.

Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $309.70 million for the quarter, compared to the consensus estimate of $313.82 million. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.71%. Armstrong Flooring’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. Equities research analysts expect that Armstrong Flooring will post 0.43 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in AFI. Millennium Management LLC raised its holdings in Armstrong Flooring by 43.6% during the 1st quarter. Millennium Management LLC now owns 257,279 shares of the construction company’s stock worth $3,491,000 after buying an additional 78,091 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Armstrong Flooring during the 2nd quarter worth approximately $114,000. Hartford Investment Management Co. bought a new position in shares of Armstrong Flooring during the 2nd quarter worth approximately $153,000. Marquette Asset Management LLC bought a new position in shares of Armstrong Flooring during the 2nd quarter worth approximately $328,000. Finally, Aperio Group LLC bought a new position in shares of Armstrong Flooring during the 2nd quarter worth approximately $156,000. Hedge funds and other institutional investors own 94.13% of the company’s stock.

About Armstrong Flooring

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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