Armstrong Flooring (AFI) Trading 6.4% Higher

Armstrong Flooring, Inc. (NYSE:AFI)’s share price traded up 6.4% during trading on Friday . The stock traded as high as $17.36 and last traded at $17.34. 813,200 shares traded hands during mid-day trading, an increase of 304% from the average session volume of 201,460 shares. The stock had previously closed at $16.30.

A number of brokerages have recently issued reports on AFI. SunTrust Banks restated a “hold” rating and set a $15.00 target price on shares of Armstrong Flooring in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, 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 given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.20.

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.66 and a quick ratio of 0.98. The company has a market capitalization of $446.08, a PE ratio of -16.91 and a beta of 4.89.

Armstrong Flooring (NYSE:AFI) last announced its earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). The business had revenue of $308.50 million for the quarter, compared to analysts’ expectations of $294.68 million. Armstrong Flooring had a positive return on equity of 1.06% and a negative net margin of 2.40%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. analysts forecast that Armstrong Flooring, Inc. will post 0.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in AFI. Oppenheimer Asset Management Inc. lifted its holdings in shares of Armstrong Flooring by 138.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,800 shares of the construction company’s stock worth $158,000 after purchasing an additional 5,102 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Armstrong Flooring by 13.7% during the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock worth $231,000 after purchasing an additional 1,551 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Armstrong Flooring during the second quarter worth $330,000. KBC Group NV lifted its holdings in shares of Armstrong Flooring by 1.2% during the second quarter. KBC Group NV now owns 18,663 shares of the construction company’s stock worth $335,000 after purchasing an additional 225 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Armstrong Flooring by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock worth $351,000 after purchasing an additional 1,056 shares during the period. Institutional investors and hedge funds 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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