Armstrong Flooring Inc (NYSE:AFI) Sees Large Increase in Short Interest

Armstrong Flooring Inc (NYSE:AFI) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 260,400 shares, a growth of 47.0% from the September 15th total of 177,100 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 224,100 shares, the short-interest ratio is presently 1.2 days.

Shares of Armstrong Flooring stock traded up $0.07 during trading hours on Friday, hitting $5.07. The company’s stock had a trading volume of 528,316 shares, compared to its average volume of 252,764. The business has a 50 day moving average price of $3.87 and a two-hundred day moving average price of $3.03. Armstrong Flooring has a 12-month low of $1.12 and a 12-month high of $6.75. The company has a market cap of $109.48 million, a PE ratio of -1.46 and a beta of 2.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.76 and a current ratio of 1.78.

Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.08. Armstrong Flooring had a negative return on equity of 19.22% and a negative net margin of 12.85%. The business had revenue of $145.60 million for the quarter.

Several large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its position in shares of Armstrong Flooring by 3.0% in the first quarter. Two Sigma Advisers LP now owns 252,000 shares of the construction company’s stock worth $360,000 after buying an additional 7,400 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Armstrong Flooring by 33.3% in the first quarter. Alliancebernstein L.P. now owns 35,600 shares of the construction company’s stock worth $51,000 after buying an additional 8,900 shares in the last quarter. FDx Advisors Inc. purchased a new stake in shares of Armstrong Flooring in the first quarter worth about $583,000. Virtu Financial LLC purchased a new stake in shares of Armstrong Flooring in the second quarter worth about $33,000. Finally, Wells Fargo & Company MN lifted its position in shares of Armstrong Flooring by 50.2% in the first quarter. Wells Fargo & Company MN now owns 54,492 shares of the construction company’s stock worth $78,000 after buying an additional 18,217 shares in the last quarter. Institutional investors own 82.51% of the company’s stock.

Separately, ValuEngine raised Armstrong Flooring from a “buy” rating to a “strong-buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $3.66.

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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