Armstrong Flooring Inc (NYSE:AFI) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 508,400 shares, a drop of 12.4% from the June 30th total of 580,500 shares. Based on an average daily trading volume, of 298,400 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.5% of the shares of the company are short sold.
A number of equities analysts recently issued reports on the company. Nomura reissued a “buy” rating and set a $5.00 price target on shares of Armstrong Flooring in a report on Sunday, June 7th. Stifel Nicolaus raised their price target on Armstrong Flooring from $1.50 to $1.80 and gave the stock a “hold” rating in a report on Friday, May 8th. Zacks Investment Research raised Armstrong Flooring from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a report on Tuesday, June 9th. Finally, Nomura Instinet reissued a “neutral” rating and set a $5.00 price target on shares of Armstrong Flooring in a report on Wednesday, May 27th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Armstrong Flooring has an average rating of “Buy” and a consensus price target of $3.66.
Shares of NYSE:AFI opened at $2.97 on Friday. The company has a quick ratio of 0.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The company has a market cap of $64.13 million, a P/E ratio of -0.86 and a beta of 2.91. Armstrong Flooring has a 52 week low of $1.12 and a 52 week high of $8.67. The company has a 50-day moving average price of $3.08 and a 200 day moving average price of $2.81.
Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.08. The firm had revenue of $145.60 million during the quarter. Armstrong Flooring had a negative net margin of 12.85% and a negative return on equity of 18.78%.
A number of large investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL lifted its position in Armstrong Flooring by 19.7% in the first quarter. Gamco Investors INC. ET AL now owns 1,735,750 shares of the construction company’s stock valued at $2,482,000 after purchasing an additional 285,895 shares during the period. Renaissance Technologies LLC lifted its position in Armstrong Flooring by 41.0% in the fourth quarter. Renaissance Technologies LLC now owns 445,649 shares of the construction company’s stock valued at $1,903,000 after purchasing an additional 129,683 shares during the period. Goldman Sachs Group Inc. lifted its position in Armstrong Flooring by 103.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 316,898 shares of the construction company’s stock valued at $1,353,000 after purchasing an additional 161,426 shares during the period. AQR Capital Management LLC lifted its position in shares of Armstrong Flooring by 228.9% during the 4th quarter. AQR Capital Management LLC now owns 311,105 shares of the construction company’s stock valued at $1,328,000 after acquiring an additional 216,526 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Armstrong Flooring by 9.2% during the 1st quarter. Acadian Asset Management LLC now owns 275,053 shares of the construction company’s stock valued at $394,000 after acquiring an additional 23,107 shares during the period. Hedge funds and other institutional investors own 89.09% of the company’s stock.
About Armstrong Flooring
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim. The company sells its products to independent wholesale flooring distributors, retailers, builders, contractors, installers, property management firms, homeowners, and others.
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