Zacks: Brokerages Anticipate Armstrong Flooring Inc (AFI) Will Post Quarterly Sales of $261.25 Million
Equities analysts expect Armstrong Flooring Inc (NYSE:AFI) to post sales of $261.25 million for the current quarter, according to Zacks. Two analysts have issued estimates for Armstrong Flooring’s earnings, with the lowest sales estimate coming in at $260.60 million and the highest estimate coming in at $261.90 million. Armstrong Flooring reported sales of $271.70 million during the same quarter last year, which indicates a negative year-over-year growth rate of 3.8%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, March 6th.
According to Zacks, analysts expect that Armstrong Flooring will report full-year sales of $261.25 million for the current year. For the next fiscal year, analysts forecast that the firm will post sales of $1.13 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Armstrong Flooring.
Several research analysts have recently weighed in on the stock. SunTrust Banks restated a “hold” rating and issued a $15.00 target price on shares of Armstrong Flooring in a research note on Friday, November 3rd. TheStreet upgraded shares of Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Finally, Zacks Investment Research upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.33.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Armstrong Flooring by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,920,541 shares of the construction company’s stock valued at $34,511,000 after purchasing an additional 86,896 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Armstrong Flooring by 10.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,819,201 shares of the construction company’s stock valued at $28,653,000 after purchasing an additional 166,504 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Armstrong Flooring by 12.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,530,905 shares of the construction company’s stock valued at $24,112,000 after purchasing an additional 169,315 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of Armstrong Flooring by 0.7% in the third quarter. Epoch Investment Partners Inc. now owns 1,046,879 shares of the construction company’s stock valued at $16,489,000 after purchasing an additional 7,051 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its stake in shares of Armstrong Flooring by 1.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 851,692 shares of the construction company’s stock valued at $14,411,000 after purchasing an additional 12,651 shares during the period. Institutional investors and hedge funds own 97.60% of the company’s stock.
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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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