Armstrong Flooring Inc (NYSE:AFI) Receives $11.90 Consensus Target Price from Brokerages

Armstrong Flooring Inc (NYSE:AFI) has been assigned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.90.

AFI has been the topic of several research analyst reports. TheStreet cut shares of Armstrong Flooring from a “c-” rating to a “d+” rating in a research report on Thursday, May 30th. Nomura cut their target price on shares of Armstrong Flooring from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Gabelli cut shares of Armstrong Flooring from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Armstrong Flooring from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Monday, August 12th. Finally, Stifel Nicolaus set a $9.00 target price on shares of Armstrong Flooring and gave the stock a “hold” rating in a report on Wednesday, August 7th.

In other Armstrong Flooring news, Director Holdings L.P. Valueact sold 3,399,925 shares of the firm’s 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 legal filing with the SEC, which is available at this link. Company insiders own 3.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. Raymond James Trust N.A. acquired a new stake in shares of Armstrong Flooring in the first quarter valued at approximately $140,000. Nisa Investment Advisors LLC increased its stake in shares of Armstrong Flooring by 26.1% in the first quarter. Nisa Investment Advisors LLC now owns 8,700 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,800 shares during the period. Strs Ohio increased its stake in shares of Armstrong Flooring by 4.8% in the first quarter. Strs Ohio now owns 45,600 shares of the construction company’s stock valued at $620,000 after purchasing an additional 2,100 shares during the period. Geode Capital Management LLC increased its stake in shares of Armstrong Flooring by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 251,546 shares of the construction company’s stock valued at $2,978,000 after purchasing an additional 12,826 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Armstrong Flooring by 164.4% in the fourth quarter. Deutsche Bank AG now owns 169,223 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 105,232 shares during the period.

Shares of AFI stock traded down $0.36 during trading hours on Friday, hitting $6.63. 184,450 shares of the company were exchanged, compared to its average volume of 269,729. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 2.30. Armstrong Flooring has a one year low of $6.59 and a one year high of $20.46. The business’s 50-day simple moving average is $8.39 and its two-hundred day simple moving average is $11.77.

Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.04 by $0.32. Armstrong Flooring had a negative net margin of 21.09% and a negative return on equity of 0.17%. The business had revenue of $177.70 million for the quarter, compared to analysts’ expectations of $194.45 million. During the same quarter last year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts anticipate that Armstrong Flooring will post -0.11 earnings per share for the current fiscal year.

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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Analyst Recommendations for Armstrong Flooring (NYSE:AFI)

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