Fact Check: What’s up with Armstrong Flooring, Inc. (AFI) today

The biggest gainers of the session on the Wall Street include Armstrong Flooring, Inc. (NYSE:AFI), which rose 1.03 points or 9.79% to trade at $11.55 as last check. The stock closed last session at $10.52 and sets an active trading volume day with a reported 207312 contracts so far this session. AFI shares had a relatively better volume day versus average trading capacity of 163.27 thousand shares, but with a 25.72 million float and a -10.16% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AFI stock indicates that the average analyst price target is $13.67 per share. This means the stock has a potential increase of 18.35% from where the AFI share price has been trading recently which is between $10.4 and $10.74. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Armstrong Flooring Announces Commencement of Tender Offer to Repurchase up to $50 Million of its Common Stock” and dated May 17, 2019.

During the recent trading session for Armstrong Flooring, Inc. (NYSE:AFI), the company witnessed their stock rise $0.12 over a week and tumble down $-3.18 from the price 20 days ago. When compared to their established 52-week high of $20.46, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/19/18. The recent low of $10.4 stood for a -43.55% since 05/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Armstrong Flooring, Inc., the two-week RSI stands at 36.6. This figure suggests that AFI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AFI readings is similarly very revealing as it has a stochastic reading of 11.22% at this stage. This figure means that AFI share price today is being overbought.

Technical chart claims that Armstrong Flooring, Inc. (AFI) would settle between $10.71/share to $10.89/share level. However, if the stock price goes below the $10.37 mark, then the market for Armstrong Flooring, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.21 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.38. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Gabelli & Co lowered their recommendation on shares of AFI from Buy to Hold in their opinion released on May 08. Gabelli & Co analysts bumped their rating on Armstrong Flooring, Inc. (NYSE:AFI) stock from Hold to Buy in a separate flash note issued to investors on November 16. Analysts at Gabelli & Co lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to August 08.

AFI equity has an average rating of 2.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Armstrong Flooring, Inc. (NYSE:AFI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, AFI stock price is currently trading at 24.99X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.38 while for the average stock in the same group, the multiple is 1.3. Armstrong Flooring, Inc. current P/E ratio of 125.52 means it is trading at a premium against its industry’s 23.04. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.

Armstrong Flooring, Inc. (AFI)’s current-quarter revenues are projected to climb by nearly -38.24% to hit $189000, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -32.11% from $1.03 billion to a noteworthy $697550. At the other end of the current quarter income statement, Armstrong Flooring, Inc. is expected to see its adjusted earnings surge by roughly -91.49% to hit $0.04 per share. For the fiscal year, AFI’s earnings are projected to climb by roughly -236.36% to hit $-0.3 per share.