Zacks Investment Research upgraded shares of Armstrong Flooring (NYSE:AFI) from a strong sell rating to a buy rating in a research note released on Tuesday, Zacks.com reports. The brokerage currently has $11.00 target price on the construction company’s stock.
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 research firms also recently weighed in on AFI. Gabelli raised Phibro Animal Health from a hold rating to a buy rating and set a $42.00 price objective for the company in a report on Wednesday, May 8th. They noted that the move was a valuation call. TheStreet downgraded Urban Outfitters from a b- rating to a c+ rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Armstrong Flooring presently has an average rating of Hold and a consensus price target of $15.20.
Shares of AFI opened at $9.76 on Tuesday. The company has a 50 day simple moving average of $10.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.64 and a quick ratio of 1.36. The firm has a market capitalization of $252.66 million, a P/E ratio of 108.22 and a beta of 2.17. Armstrong Flooring has a 52-week low of $9.43 and a 52-week high of $20.46.
Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings data on Friday, May 3rd. The construction company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.29). The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $161.32 million. Armstrong Flooring had a negative net margin of 18.58% and a positive return on equity of 0.45%. Armstrong Flooring’s revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, equities research analysts predict that Armstrong Flooring will post -0.3 EPS for the current fiscal year.
In other news, Director Holdings L.P. Valueact sold 3,399,925 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $11.10, for a total value of $37,739,167.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in Armstrong Flooring in the first quarter worth $31,000. Legal & General Group Plc raised its position in Armstrong Flooring by 23.8% in the fourth quarter. Legal & General Group Plc now owns 3,865 shares of the construction company’s stock worth $46,000 after acquiring an additional 742 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Armstrong Flooring by 96.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,869 shares of the construction company’s stock worth $66,000 after acquiring an additional 2,393 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Armstrong Flooring by 296.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,530 shares of the construction company’s stock worth $77,000 after acquiring an additional 4,881 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Armstrong Flooring by 26.1% in the first quarter. Nisa Investment Advisors LLC now owns 8,700 shares of the construction company’s stock worth $118,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 98.37% of the company’s stock.
Armstrong Flooring Company Profile
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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