Armstrong Flooring (AFI) Rating Increased to Strong-Buy at Zacks Investment Research

Armstrong Flooring (NYSE:AFI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm currently has a $18.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.43% from the stock’s previous close.

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. “

AFI has been the topic of a number of other research reports. Macquarie set a $18.00 target price on shares of Armstrong Flooring and gave the company a “hold” rating in a report on Friday, September 14th. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price 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. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Armstrong Flooring presently has a consensus rating of “Buy” and an average target price of $17.67.

Shares of AFI stock opened at $15.73 on Thursday. Armstrong Flooring has a 12 month low of $12.03 and a 12 month high of $20.46. The firm has a market cap of $395.16 million, a PE ratio of 74.90, a price-to-earnings-growth ratio of 1.56 and a beta of 2.27. The company has a current ratio of 2.60, a quick ratio of 0.93 and a debt-to-equity ratio of 0.17.

Armstrong Flooring (NYSE:AFI) last announced its earnings results on Tuesday, November 6th. The construction company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.71%. The firm had revenue of $309.70 million for the quarter, compared to analysts’ expectations of $313.82 million. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, analysts expect that Armstrong Flooring will post 0.45 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in 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 worth $30,168,000 after purchasing an additional 55,666 shares in the last quarter. BlackRock Inc. boosted its stake in Armstrong Flooring by 11.4% in the 3rd quarter. BlackRock Inc. now owns 1,779,944 shares of the construction company’s stock worth $32,217,000 after purchasing an additional 182,003 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in 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 worth $23,208,000 after purchasing an additional 224,695 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in 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 worth $20,036,000 after purchasing an additional 20,520 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Armstrong Flooring by 81.9% in the 2nd quarter. Renaissance Technologies LLC now owns 436,022 shares of the construction company’s stock worth $6,122,000 after purchasing an additional 196,322 shares in the last quarter. 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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