Armstrong Flooring (AFI) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Armstrong Flooring (NYSE:AFI) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $19.00 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. “
AFI has been the topic of several other research reports. SunTrust Banks reaffirmed a hold rating and set a $15.00 target price on shares of Armstrong Flooring in a research note on Friday, November 3rd. TheStreet raised shares of Armstrong Flooring from a d+ rating to a c- rating in a research note on Tuesday, November 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Armstrong Flooring currently has a consensus rating of Hold and an average price target of $23.33.
Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). Armstrong Flooring had a negative net margin of 2.40% and a positive return on equity of 1.06%. The company had revenue of $308.50 million during the quarter, compared to analyst estimates of $294.68 million. During the same period in the prior year, the business posted $0.43 EPS. Armstrong Flooring’s revenue was down 1.6% compared to the same quarter last year. sell-side analysts predict that Armstrong Flooring will post 0.15 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in Armstrong Flooring by 1.7% during the 2nd quarter. Rhumbline Advisers now owns 28,206 shares of the construction company’s stock worth $507,000 after purchasing an additional 470 shares during the last quarter. Symphony Asset Management LLC boosted its stake in Armstrong Flooring by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 21,003 shares of the construction company’s stock worth $377,000 after purchasing an additional 808 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in Armstrong Flooring by 2.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 35,640 shares of the construction company’s stock worth $640,000 after purchasing an additional 920 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Armstrong Flooring by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock worth $351,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Armstrong Flooring by 13.7% during the 2nd quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock worth $231,000 after purchasing an additional 1,551 shares during the last quarter. 98.53% of the stock is currently owned by institutional investors.
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Armstrong Flooring Company Profile
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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