A number of other equities research analysts have also weighed in on the company. Instinet lifted their target price on Armstrong Flooring from $48.00 to $49.00 and gave the company a buy rating in a research report on Monday, April 17th. Zacks Investment Research raised Armstrong Flooring from a sell rating to a hold rating in a research report on Tuesday, May 9th. Stifel Nicolaus reaffirmed a hold rating and set a $20.00 target price on shares of Armstrong Flooring in a research report on Monday, August 7th. Finally, Gabelli lowered Armstrong Flooring from a buy rating to a hold rating and set a $18.00 target price for the company. in a research 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 issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $26.50.
Shares of Armstrong Flooring (NYSE AFI) opened at 13.89 on Tuesday. Armstrong Flooring has a 52 week low of $13.55 and a 52 week high of $22.96. The stock has a market capitalization of $376.21 million, a PE ratio of 631.36 and a beta of 4.45. The company has a 50-day moving average price of $16.72 and a 200 day moving average price of $18.69.
Armstrong Flooring (NYSE:AFI) last issued its earnings results on Monday, August 7th. The construction company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.12. The firm had revenue of $297.30 million for the quarter, compared to the consensus estimate of $324.63 million. Armstrong Flooring had a negative net margin of 0.03% and a positive return on equity of 1.99%. The firm’s revenue was down 8.2% on a year-over-year basis. Equities analysts forecast that Armstrong Flooring will post $0.24 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in AFI. The Manufacturers Life Insurance Company increased its position in shares of Armstrong Flooring by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock worth $351,000 after buying an additional 1,056 shares in the last quarter. State Street Corp increased its position in shares of Armstrong Flooring by 3.1% in the second quarter. State Street Corp now owns 463,797 shares of the construction company’s stock worth $8,335,000 after buying an additional 13,817 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Armstrong Flooring during the second quarter worth about $543,000. Goldman Sachs Group Inc. increased its position in shares of Armstrong Flooring by 308.5% in the second quarter. Goldman Sachs Group Inc. now owns 86,460 shares of the construction company’s stock worth $1,554,000 after buying an additional 65,297 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Armstrong Flooring by 13.7% in the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock worth $231,000 after buying an additional 1,551 shares in the last quarter.
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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