Nomura slashes price target on Armstrong Flooring Inc. [AFI] – find out why.



Armstrong Flooring Inc. [NYSE: AFI] surged by $0.79 during the normal trading session on Monday and reaching a high of $2.82 during the day while it closed the day at $2.77. The company report on December 31, 2021 that ARMSTRONG FLOORING ANNOUNCES AMENDMENTS TO ABL AND TERM LOAN FACILITIES; RECEIVES $35 MILLION CAPITAL INFUSION; ANNOUNCES PROCESS FOR SALE OF THE COMPANY AND CONSIDERATION OF OTHER STRATEGIC ALTERNATIVES.

Armstrong Flooring, Inc. (NYSE:AFI) a leader in the design and manufacture of innovative flooring solutions, announced it has successfully amended its ABL Credit Facility and Term Loan Facility today. These amendments, which received unanimous support from the Company’s ABL and Term Loan lenders, provide certain covenant modifications under the Company’s ABL and Term Loan facilities through June 30, 2022.

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In conjunction with the Term Loan Amendment, Pathlight Capital LP, the Company’s current term loan lender, provided the Company an additional $35 million aggregate principal amount of term loans to give the Company financial flexibility to pursue its operational and strategic goals.

Armstrong Flooring Inc. stock has also gained 62.94% of its value over the past 7 days. However, AFI stock has declined by -17.31% in the 3 months of the year. Over the past six months meanwhile, it has lost -54.52% and gained 39.90% year-on date.

The market cap for AFI stock reached $57.78 million, with 22.10 million shares outstanding and 20.97 million shares in the current float. Compared to the average trading volume of 217.06K shares, AFI reached a trading volume of 25351304 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Armstrong Flooring Inc. [AFI]:

Nomura have made an estimate for Armstrong Flooring Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 14, 2020. The new note on the price target was released on May 08, 2019, representing the official price target for Armstrong Flooring Inc. stock. Previously, the target price had yet another raise to $24, while Gabelli & Co analysts kept a Buy rating on AFI stock.

The Average True Range (ATR) for Armstrong Flooring Inc. is set at 0.18, with the Price to Sales ratio for AFI stock in the period of the last 12 months amounting to 0.09. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 0.71.

AFI stock trade performance evaluation

Armstrong Flooring Inc. [AFI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 62.94. With this latest performance, AFI shares gained by 42.05% in over the last four-week period, additionally sinking by -54.52% over the last 6 months – not to mention a drop of -24.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AFI stock in for the last two-week period is set at 75.04, with the RSI for the last a single of trading hit 84.47, and the three-weeks RSI is set at 66.57 for Armstrong Flooring Inc. [AFI]. The present Moving Average for the last 50 days of trading for this stock 2.2100, while it was recorded at 2.0400 for the last single week of trading, and 4.1100 for the last 200 days.

Armstrong Flooring Inc. [AFI]: An insightful look at the core fundamentals

Armstrong Flooring Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for Armstrong Flooring Inc. [AFI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AFI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Armstrong Flooring Inc. go to 47.60%.

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Armstrong Flooring Inc. [AFI]: Insider Ownership positions

There are presently around $29 million, or 68.00% of AFI stock, in the hands of institutional investors. The top three institutional holders of AFI stocks are: 22NW, LP with ownership of 3,196,336, which is approximately 3.553% of the company’s market cap and around 2.30% of the total institutional ownership; HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC, holding 2,367,474 shares of the stock with an approximate value of $4.69 million in AFI stocks shares; and GAMCO INVESTORS, INC. ET AL, currently with $3.97 million in AFI stock with ownership of nearly 6.787% of the company’s market capitalization.

17 institutional holders increased their position in Armstrong Flooring Inc. [NYSE:AFI] by around 482,367 shares. Additionally, 28 investors decreased positions by around 981,625 shares, while 20 investors held positions by with 12,994,387 shares. The mentioned changes placed institutional holdings at 14,458,379 shares, according to the latest SEC report filing. AFI stock had 6 new institutional investments in for a total of 46,129 shares, while 8 institutional investors sold positions of 473,655 shares during the same period.