Armstrong Flooring (NYSE:AFI) has been given a $9.00 price target by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, TipRanks reports. The brokerage presently has a “hold” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 13.78% from the company’s previous close.
A number of other analysts have also commented on the stock. TheStreet lowered shares of Armstrong Flooring from a “c-” rating to a “d+” rating in a report on Thursday, May 30th. Gabelli lowered shares of Armstrong Flooring from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Armstrong Flooring from a “strong sell” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 9th. Finally, Nomura decreased their price target on shares of Armstrong Flooring from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.40.
Get Armstrong Flooring alerts: AFI traded down $0.05 during trading on Wednesday, reaching $7.91. 255,700 shares of the company’s stock were exchanged, compared to its average volume of 202,099. The firm has a fifty day moving average of $9.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.64 and a quick ratio of 1.36. Armstrong Flooring has a fifty-two week low of $7.00 and a fifty-two week high of $20.46. The firm has a market cap of $208.82 million, a price-to-earnings ratio of 35.95 and a beta of 2.16.
Armstrong Flooring (NYSE:AFI) last released its earnings results on Tuesday, August 6th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.32. Armstrong Flooring had a negative net margin of 18.58% and a positive return on equity of 0.45%. The firm had revenue of $177.70 million during the quarter, compared to analyst estimates of $194.45 million. During the same quarter in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts forecast that Armstrong Flooring will post -0.3 earnings per share for the current year.
In related news, Director Holdings L.P. Valueact sold 3,399,925 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $11.10, for a total value of $37,739,167.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link . Insiders own 3.60% of the company’s stock.
A number of large investors have recently modified their holdings of AFI. Royce & Associates LP bought a new stake in Armstrong Flooring during the 1st quarter worth about $31,000. Aperio Group LLC bought a new stake in Armstrong Flooring during the 2nd quarter worth about $39,000. Legal & General Group Plc lifted its position in Armstrong Flooring by 23.8% during the 4th quarter. Legal & General Group Plc now owns 3,865 shares of the construction company’s stock worth $46,000 after buying an additional 742 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Armstrong Flooring during the 2nd quarter worth about $64,000. Finally, BNP Paribas Arbitrage SA lifted its position in Armstrong Flooring by 96.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,869 shares of the construction company’s stock worth $66,000 after buying an additional 2,393 shares in the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
About Armstrong Flooring
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim. The company sells its products to independent wholesale flooring distributors, retailers, builders, contractors, installers, property management firms, homeowners, and others.
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