Armstrong Flooring Inc (NYSE:AFI) Receives $11.00 Consensus Target Price from Brokerages

Armstrong Flooring Inc (NYSE:AFI) has earned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.00.

Several equities research analysts have recently issued reports on AFI shares. Zacks Investment Research upgraded Armstrong Flooring from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 7th. ValuEngine upgraded Armstrong Flooring from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Armstrong Flooring stock traded up $0.01 during mid-day trading on Wednesday, hitting $4.36. 75,047 shares of the company were exchanged, compared to its average volume of 95,853. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.11. The business’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $6.18. The company has a market capitalization of $93.74 million, a P/E ratio of -0.54 and a beta of 2.02. Armstrong Flooring has a 12-month low of $3.56 and a 12-month high of $15.15.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.71). Armstrong Flooring had a negative return on equity of 6.73% and a negative net margin of 32.00%. The company had revenue of $165.60 million for the quarter, compared to analysts’ expectations of $198.50 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s quarterly revenue was down 20.7% on a year-over-year basis. Equities research analysts predict that Armstrong Flooring will post -1.49 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Strs Ohio lifted its stake in shares of Armstrong Flooring by 37.6% during the third quarter. Strs Ohio now owns 80,100 shares of the construction company’s stock worth $511,000 after purchasing an additional 21,900 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Armstrong Flooring by 67.2% during the third quarter. Squarepoint Ops LLC now owns 98,996 shares of the construction company’s stock worth $633,000 after purchasing an additional 39,799 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Armstrong Flooring during the second quarter worth about $205,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Armstrong Flooring during the third quarter worth about $1,506,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Armstrong Flooring by 101.0% during the third quarter. Wedge Capital Management L L P NC now owns 138,113 shares of the construction company’s stock worth $883,000 after purchasing an additional 69,386 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

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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