Armstrong Flooring (AFI) Releases Quarterly Earnings Results

Armstrong Flooring (NYSE:AFI) released its quarterly earnings data on Tuesday. The construction company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.13, MarketWatch Earnings reports. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.72%. The firm had revenue of $309.70 million for the quarter, compared to the consensus estimate of $313.82 million. During the same period in the previous year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis.

NYSE:AFI opened at $15.30 on Thursday. Armstrong Flooring has a one year low of $12.03 and a one year high of $20.46. The firm has a market capitalization of $412.36 million, a price-to-earnings ratio of 72.86, a P/E/G ratio of 1.72 and a beta of 2.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 2.43.

Several large investors have recently added to or reduced their stakes in AFI. Nantahala Capital Management LLC increased its holdings in shares of Armstrong Flooring by 15.7% in the second 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 last quarter. Renaissance Technologies LLC grew its stake in shares of Armstrong Flooring by 81.9% in the second quarter. Renaissance Technologies LLC now owns 436,022 shares of the construction company’s stock valued at $6,122,000 after acquiring an additional 196,322 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Armstrong Flooring by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,093,076 shares of the construction company’s stock valued at $28,403,000 after acquiring an additional 136,104 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Armstrong Flooring by 74.8% in the second quarter. Citadel Advisors LLC now owns 221,668 shares of the construction company’s stock valued at $3,112,000 after acquiring an additional 94,825 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Armstrong Flooring by 43.6% in the first quarter. Millennium Management LLC now owns 257,279 shares of the construction company’s stock valued at $3,491,000 after acquiring an additional 78,091 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Several equities analysts have commented on AFI shares. Zacks Investment Research upgraded shares of Armstrong Flooring from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Friday, August 10th. Macquarie set a $18.00 price objective on shares of Armstrong Flooring and gave the company a “hold” rating in a report on Friday, September 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price objective on shares of Armstrong Flooring in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $18.00.

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Armstrong Flooring Company Profile

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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Earnings History for Armstrong Flooring (NYSE:AFI)

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