Zacks Investment Research downgraded shares of Armstrong Flooring (NYSE:AFI) from a strong-buy rating to a hold rating in a report issued on Monday.

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 reports. Gabelli upgraded Armstrong Flooring from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Friday, November 16th. Macquarie set a $18.00 price objective on Armstrong Flooring and gave the company a hold rating in a research note on Friday, September 14th. Stifel Nicolaus restated a hold rating and set a $17.00 price objective on shares of Armstrong Flooring in a research note on Thursday, August 9th. Finally, ValuEngine upgraded Armstrong Flooring from a sell rating to a hold rating in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Armstrong Flooring has an average rating of Hold and a consensus target price of $19.25.

Shares of NYSE:AFI opened at $15.85 on Monday. The company has a current ratio of 2.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a 1-year low of $12.03 and a 1-year high of $20.46. The firm has a market cap of $420.21 million, a price-to-earnings ratio of 75.38, a P/E/G ratio of 3.14 and a beta of 2.27.

Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. Armstrong Flooring had a positive return on equity of 2.71% and a negative net margin of 1.12%. The business had revenue of $309.70 million for the quarter, compared to analysts’ expectations of $313.82 million. During the same period last year, the business earned $0.20 EPS. The business’s revenue was up .4% on a year-over-year basis. As a group, sell-side analysts forecast that Armstrong Flooring will post 0.39 earnings per share for the current year.

A number of large investors have recently modified their holdings of AFI. Man Group plc raised its stake in shares of Armstrong Flooring by 1,467.2% during the 3rd quarter. Man Group plc now owns 250,636 shares of the construction company’s stock worth $4,537,000 after purchasing an additional 234,643 shares during the period. Nantahala Capital Management LLC raised its stake in shares of Armstrong Flooring by 15.7% during 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 during the period. TIAA CREF Investment Management LLC raised its stake in shares of Armstrong Flooring by 130.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 355,372 shares of the construction company’s stock worth $6,432,000 after purchasing an additional 200,842 shares during the period. Renaissance Technologies LLC raised its stake in shares of Armstrong Flooring by 81.9% during 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 during the period. Finally, BlackRock Inc. raised its stake in shares of Armstrong Flooring by 11.4% during 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 during the period. Institutional investors and hedge funds own 94.13% 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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