Bank of America reaffirmed their buy rating on shares of Floor & Decor (NYSE:FND) in a research note released on Wednesday morning. The firm currently has a $35.00 price target on the stock, down from their prior price target of $40.00.
FND has been the topic of a number of other reports. Zacks Investment Research lowered shares of Floor & Decor from a hold rating to a sell rating in a research note on Tuesday, October 23rd. Wells Fargo & Co set a $37.00 target price on shares of Floor & Decor and gave the stock a buy rating in a research note on Tuesday. Credit Suisse Group set a $37.00 target price on shares of Floor & Decor and gave the stock a buy rating in a research note on Friday, November 2nd. Wedbush cut their target price on shares of Floor & Decor from $50.00 to $38.00 and set an outperform rating on the stock in a research note on Monday, October 29th. Finally, ValuEngine lowered shares of Floor & Decor from a hold rating to a sell rating in a research note on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $42.39.
NYSE:FND traded up $0.03 on Wednesday, reaching $31.07. 47,342 shares of the company’s stock were exchanged, compared to its average volume of 1,312,537. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.50 and a quick ratio of 0.26. The firm has a market capitalization of $2.69 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.04. Floor & Decor has a 52-week low of $23.30 and a 52-week high of $58.28.
Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $435.90 million for the quarter, compared to analyst estimates of $428.88 million. Floor & Decor had a net margin of 8.80% and a return on equity of 19.82%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Analysts expect that Floor & Decor will post 0.95 EPS for the current fiscal year.
In related news, Director George Vincent West sold 140,000 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $31.12, for a total transaction of $4,356,800.00. Following the completion of the sale, the director now directly owns 140,000 shares of the company’s stock, valued at $4,356,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Floor & Decor in the second quarter valued at $195,000. SG Americas Securities LLC purchased a new position in shares of Floor & Decor in the second quarter valued at $200,000. Oppenheimer & Co. Inc. purchased a new position in shares of Floor & Decor in the second quarter valued at $217,000. Rehmann Capital Advisory Group increased its position in shares of Floor & Decor by 37,708.3% in the second quarter. Rehmann Capital Advisory Group now owns 4,537 shares of the company’s stock valued at $224,000 after buying an additional 4,525 shares in the last quarter. Finally, TLP Group LLC purchased a new position in shares of Floor & Decor in the third quarter valued at $138,000.
About Floor & Decor
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.
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