Zacks Investment Research downgraded shares of Armstrong Flooring (NYSE:AFI) from a buy rating to a hold rating in a research report released on Tuesday.
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 research analysts also recently commented on AFI. ValuEngine upgraded 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 Armstrong Flooring and gave the stock 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 given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $17.67.
Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.13. The firm had revenue of $309.70 million during the quarter, compared to the consensus estimate of $313.82 million. Armstrong Flooring had a positive return on equity of 2.71% and a negative net margin of 1.12%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. As a group, research analysts anticipate that Armstrong Flooring will post 0.45 earnings per share for the current year.
Several institutional investors have recently modified their holdings of AFI. Nisa Investment Advisors LLC bought a new stake in Armstrong Flooring during the second quarter worth $114,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Armstrong Flooring during the 2nd quarter worth approximately $141,000. Hartford Investment Management Co. purchased a new stake in shares of Armstrong Flooring during the 2nd quarter worth approximately $153,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Armstrong Flooring during the 2nd quarter worth approximately $153,000. Finally, Aperio Group LLC purchased a new stake in shares of Armstrong Flooring during the 2nd quarter worth approximately $156,000. Institutional investors own 96.11% of the company’s stock.
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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