Armstrong Flooring, Inc. (NYSE:AFI) shares hit a new 52-week low during trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $14.29 and last traded at $14.29, with a volume of 528,603 shares traded. The stock had previously closed at $17.28.
The construction company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.12. The company had revenue of $297.30 million during the quarter, compared to analyst estimates of $324.63 million. Armstrong Flooring had a negative net margin of 0.03% and a positive return on equity of 1.99%. Armstrong Flooring’s quarterly revenue was down 8.2% compared to the same quarter last year.
A number of research analysts have recently issued reports on the company. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 target price on shares of Armstrong Flooring in a report on Monday, August 7th. Gabelli lowered Armstrong Flooring from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Tuesday, August 8th. Zacks Investment Research lowered Armstrong Flooring from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Nomura reaffirmed a “neutral” rating on shares of Armstrong Flooring in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.50.
The company has a 50 day moving average price of $16.72 and a 200-day moving average price of $18.69. The stock has a market cap of $376.21 million, a P/E ratio of 631.36 and a beta of 4.45.
About Armstrong Flooring
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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