Armstrong Flooring (NYSE:AFI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Armstrong Flooring (NYSE:AFI) from a strong sell rating to a buy rating in a report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $11.00 target price on the construction company’s stock.

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 have also commented on the stock. TheStreet lowered shares of Urban Outfitters from a b- rating to a c+ rating in a research note on Thursday, May 30th. Gabelli upgraded shares of Phibro Animal Health from a hold rating to a buy rating and set a $42.00 price objective on the stock in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $15.20.

NYSE AFI opened at $9.74 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.36 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $257.59 million, a price-to-earnings ratio of 44.27 and a beta of 2.17. Armstrong Flooring has a one year low of $9.43 and a one year high of $20.46. The company has a fifty day simple moving average of $10.67.

Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings data on Friday, May 3rd. The construction company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.29). The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $161.32 million. Armstrong Flooring had a negative net margin of 18.58% and a positive return on equity of 0.45%. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Research analysts anticipate that Armstrong Flooring will post -0.3 EPS for the current year.

In other news, Director Holdings L.P. Valueact sold 3,399,925 shares of Armstrong Flooring stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $11.10, for a total value of $37,739,167.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Armstrong Flooring by 41.3% during the 4th quarter. Rhumbline Advisers now owns 30,229 shares of the construction company’s stock valued at $358,000 after acquiring an additional 8,834 shares during the period. BlackRock Inc. boosted its holdings in Armstrong Flooring by 0.6% during the 4th quarter. BlackRock Inc. now owns 1,791,304 shares of the construction company’s stock valued at $21,208,000 after acquiring an additional 11,360 shares during the period. Geode Capital Management LLC boosted its holdings in Armstrong Flooring by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 251,546 shares of the construction company’s stock valued at $2,978,000 after acquiring an additional 12,826 shares during the period. Mackay Shields LLC boosted its holdings in Armstrong Flooring by 5.9% during the 4th quarter. Mackay Shields LLC now owns 94,058 shares of the construction company’s stock valued at $1,114,000 after acquiring an additional 5,258 shares during the period. Finally, Brandywine Global Investment Management LLC raised its position in Armstrong Flooring by 6.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 13,820 shares of the construction company’s stock valued at $164,000 after purchasing an additional 830 shares during the last quarter. 98.37% of the stock is currently owned by institutional investors and hedge funds.

Armstrong Flooring Company Profile

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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