Floor & Decor (NYSE:FND) had its target price hoisted by Morgan Stanley from $41.00 to $48.00 in a report issued on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.
Other analysts also recently issued research reports about the stock. Loop Capital increased their price objective on shares of Floor & Decor from $43.00 to $46.00 and gave the company a hold rating in a research report on Monday, October 14th. Jefferies Financial Group increased their price objective on shares of Floor & Decor from $52.00 to $59.00 and gave the company a buy rating in a research report on Monday, January 6th. They noted that the move was a valuation call. Wedbush reaffirmed an outperform rating and issued a $53.00 price objective (up previously from $45.00) on shares of Floor & Decor in a research report on Monday, November 4th. UBS Group increased their price objective on shares of Floor & Decor from $51.00 to $53.00 and gave the company a buy rating in a research report on Monday, November 4th. Finally, ValuEngine raised shares of Floor & Decor from a strong sell rating to a sell rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Floor & Decor has an average rating of Hold and a consensus price target of $49.24.
NYSE FND traded down $0.94 during mid-day trading on Thursday, hitting $48.53. The company’s stock had a trading volume of 577,800 shares, compared to its average volume of 818,037. Floor & Decor has a 52-week low of $31.10 and a 52-week high of $53.00. The stock’s fifty day simple moving average is $49.44 and its two-hundred day simple moving average is $46.47. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.31 and a quick ratio of 0.32. The firm has a market capitalization of $4.93 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of 1.57 and a beta of 1.88.
Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Floor & Decor had a net margin of 6.81% and a return on equity of 17.58%. The firm had revenue of $521.10 million for the quarter, compared to analyst estimates of $524.00 million. During the same quarter last year, the firm posted $0.24 earnings per share. Floor & Decor’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that Floor & Decor will post 1.1 earnings per share for the current fiscal year.
In other news, Director Peter Starrett sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $50.65, for a total transaction of $1,671,450.00. Following the completion of the sale, the director now owns 38,128 shares of the company’s stock, valued at $1,931,183.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corporate Opportunities F. Ares sold 7,105,728 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $43.80, for a total transaction of $311,230,886.40. The disclosure for this sale can be found here. Insiders have sold 7,244,980 shares of company stock valued at $317,685,243 in the last three months. Corporate insiders own 7.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of Floor & Decor by 0.7% during the third quarter. Rhumbline Advisers now owns 66,100 shares of the company’s stock worth $3,381,000 after buying an additional 433 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Floor & Decor by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 80,304 shares of the company’s stock worth $4,108,000 after purchasing an additional 462 shares during the period. Fenimore Asset Management Inc. boosted its holdings in Floor & Decor by 0.3% in the fourth quarter. Fenimore Asset Management Inc. now owns 190,543 shares of the company’s stock worth $9,681,000 after purchasing an additional 613 shares during the period. Metropolitan Life Insurance Co NY boosted its holdings in Floor & Decor by 15.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,971 shares of the company’s stock worth $254,000 after purchasing an additional 675 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Floor & Decor by 19.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,452 shares of the company’s stock worth $228,000 after purchasing an additional 727 shares during the period.
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, vinyl, 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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