Armstrong Flooring (AFI) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a report released on Tuesday 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. “

A number of other analysts have also recently commented on AFI. ValuEngine upgraded shares of Armstrong Flooring from a sell rating to a hold rating in a research note on Wednesday, August 8th. Stifel Nicolaus restated a hold rating and set a $17.00 price objective on shares of Armstrong Flooring in a research note on Thursday, August 9th. Finally, Macquarie set a $18.00 price objective on shares of Armstrong Flooring and gave the company a hold rating in a research note on Friday, September 14th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Armstrong Flooring presently has a consensus rating of Buy and an average price target of $17.67.

Shares of Armstrong Flooring stock traded down $0.09 on Tuesday, reaching $15.73. The stock had a trading volume of 147,116 shares, compared to its average volume of 145,684. The company has a quick ratio of 0.93, a current ratio of 2.60 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a 1 year low of $12.03 and a 1 year high of $20.46. The company has a market cap of $395.16 million, a P/E ratio of 74.90, a PEG ratio of 1.56 and a beta of 2.27.

Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $309.70 million for the quarter, compared to the consensus estimate of $313.82 million. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.71%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, equities research analysts forecast that Armstrong Flooring will post 0.45 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Armstrong Flooring by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,148,742 shares of the construction company’s stock valued at $30,168,000 after purchasing an additional 55,666 shares during the period. BlackRock Inc. lifted its stake in shares of Armstrong Flooring by 11.4% in the 3rd quarter. BlackRock Inc. now owns 1,779,944 shares of the construction company’s stock valued at $32,217,000 after purchasing an additional 182,003 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Armstrong Flooring by 15.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,653,016 shares of the construction company’s stock valued at $23,208,000 after purchasing an additional 224,695 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Armstrong Flooring by 1.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,427,033 shares of the construction company’s stock valued at $20,036,000 after purchasing an additional 20,520 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Armstrong Flooring by 81.9% in the 2nd quarter. Renaissance Technologies LLC now owns 436,022 shares of the construction company’s stock valued at $6,122,000 after purchasing an additional 196,322 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

About Armstrong Flooring

Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells flooring products in North America and the Pacific Rim. It operates through two segments, Resilient Flooring and Wood Flooring. The Resilient Flooring segment offers a range of floor coverings primarily for homes and commercial buildings under the Armstrong brand; and luxury vinyl tile products, vinyl tile flooring, vinyl sheet products, and laminate products, as well as installs and maintains materials and accessories.

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