Zacks Investment Research Downgrades Armstrong Flooring (AFI) to Hold

Zacks Investment Research lowered shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a research note published on Wednesday 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. “

Several other brokerages have also recently issued reports on AFI. SunTrust Banks reiterated a hold rating and set a $15.00 price target on shares of Armstrong Flooring in a research report on Monday, October 2nd. TheStreet upgraded shares of Armstrong Flooring from a d+ rating to a c- rating in a research report on Tuesday, November 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Armstrong Flooring currently has a consensus rating of Hold and an average price target of $23.33.

Armstrong Flooring (NYSE AFI) opened at $16.75 on Wednesday. Armstrong Flooring has a 52-week low of $13.32 and a 52-week high of $22.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 2.66. The stock has a market cap of $430.89, a PE ratio of 69.79 and a beta of 4.92.

Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). Armstrong Flooring had a negative net margin of 2.40% and a positive return on equity of 1.06%. The company had revenue of $308.50 million for the quarter, compared to analysts’ expectations of $294.68 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Armstrong Flooring’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 fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Armstrong Flooring by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,920,541 shares of the construction company’s stock worth $34,511,000 after purchasing an additional 86,896 shares during the period. Dimensional Fund Advisors LP grew its holdings in Armstrong Flooring by 10.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,819,201 shares of the construction company’s stock worth $28,653,000 after purchasing an additional 166,504 shares during the period. Gamco Investors INC. ET AL grew its holdings in Armstrong Flooring by 12.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,530,905 shares of the construction company’s stock worth $24,112,000 after purchasing an additional 169,315 shares during the period. Epoch Investment Partners Inc. grew its holdings in Armstrong Flooring by 0.7% in the third quarter. Epoch Investment Partners Inc. now owns 1,046,879 shares of the construction company’s stock worth $16,489,000 after purchasing an additional 7,051 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Armstrong Flooring by 20.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 720,540 shares of the construction company’s stock worth $12,948,000 after purchasing an additional 124,060 shares during the period. Institutional investors own 98.53% of the company’s stock.

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Armstrong Flooring Company Profile

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.

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