Gabelli Lowers Armstrong Flooring, Inc. (NYSE:AFI) to Hold
Gabelli lowered shares of Armstrong Flooring, Inc. (NYSE:AFI) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has $18.00 price target on the construction company’s stock.
Several other equities research analysts have also weighed in on AFI. Nomura started coverage on Armstrong Flooring in a research report on Wednesday, April 12th. They issued a neutral rating and a $19.00 target price on the stock. Instinet reaffirmed a neutral rating and issued a $19.00 target price on shares of Armstrong Flooring in a research report on Friday, April 14th. Zacks Investment Research raised Armstrong Flooring from a sell rating to a hold rating in a research report on Tuesday, May 9th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 target price on shares of Armstrong Flooring in a research report on Monday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $25.00.
Armstrong Flooring (AFI) traded down 1.35% during trading on Tuesday, reaching $14.60. 137,899 shares of the company’s stock were exchanged. The firm has a market capitalization of $403.88 million, a price-to-earnings ratio of 184.81 and a beta of 4.45. Armstrong Flooring has a 52 week low of $14.49 and a 52 week high of $22.96. The stock has a 50-day moving average price of $17.83 and a 200 day moving average price of $19.15.
Armstrong Flooring (NYSE:AFI) last issued its earnings results on Monday, August 7th. The construction company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.12. Armstrong Flooring had a positive return on equity of 1.98% and a negative net margin of 0.03%. The company had revenue of $297.30 million during the quarter, compared to analyst estimates of $324.63 million. The firm’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Armstrong Flooring will post $0.48 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFI. Kirr Marbach & Co. LLC IN boosted its position in Armstrong Flooring by 47.6% in the second quarter. Kirr Marbach & Co. LLC IN now owns 24,490 shares of the construction company’s stock valued at $440,000 after buying an additional 7,900 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Armstrong Flooring by 46.9% in the second quarter. Russell Investments Group Ltd. now owns 771,147 shares of the construction company’s stock valued at $13,856,000 after buying an additional 246,357 shares during the last quarter. Strs Ohio boosted its position in Armstrong Flooring by 1.9% in the second quarter. Strs Ohio now owns 37,700 shares of the construction company’s stock valued at $677,000 after buying an additional 700 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Armstrong Flooring during the second quarter valued at about $742,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Armstrong Flooring by 40.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 130,850 shares of the construction company’s stock valued at $2,352,000 after buying an additional 37,543 shares during the last quarter. 99.44% of the stock is owned by institutional investors.
About Armstrong Flooring
Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.
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