Armstrong Flooring (NYSE:AFI) Stock Price Up 9%
Armstrong Flooring Inc (NYSE:AFI) shares rose 9% on Tuesday . The company traded as high as $2.38 and last traded at $2.18, approximately 169,600 shares changed hands during trading. A decline of 15% from the average daily volume of 199,454 shares. The stock had previously closed at $2.00.
AFI has been the subject of a number of recent analyst reports. Nomura lowered their price target on shares of Armstrong Flooring from to in a report on Tuesday, March 10th. Zacks Investment Research raised shares of Armstrong Flooring from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.44.
The company has a current ratio of 1.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $44.12 million, a P/E ratio of -0.79 and a beta of 2.12. The stock’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $4.45.
In other Armstrong Flooring news, CEO Michel Vermette acquired 89,581 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $1.86 per share, with a total value of $166,620.66. Following the purchase, the chief executive officer now directly owns 112,861 shares of the company’s stock, valued at approximately $209,921.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Armstrong Flooring by 307.9% in the third quarter. Public Employees Retirement System of Ohio now owns 35,326 shares of the construction company’s stock valued at $226,000 after purchasing an additional 26,666 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Armstrong Flooring by 67.2% in the 3rd quarter. Squarepoint Ops LLC now owns 98,996 shares of the construction company’s stock valued at $633,000 after buying an additional 39,799 shares during the last quarter. Strs Ohio boosted its holdings in shares of Armstrong Flooring by 10.9% in the 4th quarter. Strs Ohio now owns 88,800 shares of the construction company’s stock valued at $379,000 after buying an additional 8,700 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Armstrong Flooring in the 4th quarter valued at approximately $40,000. Finally, State Street Corp boosted its holdings in shares of Armstrong Flooring by 5.1% in the 4th quarter. State Street Corp now owns 478,960 shares of the construction company’s stock valued at $2,045,000 after buying an additional 23,228 shares during the last quarter. Institutional investors own 92.55% of the company’s stock.
About Armstrong Flooring (NYSE:AFI)
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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