Floor & Decor (NYSE:FND) Updates FY24 Earnings Guidance

Floor & Decor (NYSE:FND) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.75-$2.05 for the period, compared to the consensus estimate of $1.90. The company issued revenue guidance of $4.60-$4.77 billion, compared to the consensus revenue estimate of $4.67 billion.

Floor & Decor Trading Up 0.2 %

Shares of NYSE:FND traded up $0.28 during mid-day trading on Friday, reaching $113.04. The stock had a trading volume of 2,307,069 shares, compared to its average volume of 1,240,906. The firm has a 50 day simple moving average of $118.90 and a two-hundred day simple moving average of $106.27. Floor & Decor has a twelve month low of $76.30 and a twelve month high of $135.67. The firm has a market cap of $12.07 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 5.48 and a beta of 1.86. The company has a current ratio of 1.14, a quick ratio of 0.18 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. Floor & Decor had a net margin of 5.11% and a return on equity of 11.97%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts predict that Floor & Decor will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

FND has been the subject of a number of research analyst reports. UBS Group decreased their target price on Floor & Decor from $135.00 to $125.00 and set a neutral rating for the company in a research note on Friday. Piper Sandler increased their target price on Floor & Decor from $105.00 to $115.00 and gave the stock a neutral rating in a research note on Tuesday, April 9th. Guggenheim lifted their price target on shares of Floor & Decor from $115.00 to $130.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Telsey Advisory Group reiterated a market perform rating and issued a $110.00 price target on shares of Floor & Decor in a report on Monday, April 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Floor & Decor from $71.00 to $79.00 and gave the stock a neutral rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $108.76.

Insider Transactions at Floor & Decor

In other Floor & Decor news, President Trevor Lang sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $123.28, for a total value of $1,602,640.00. Following the sale, the president now owns 170,844 shares in the company, valued at $21,061,648.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Floor & Decor news, President Trevor Lang sold 13,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $123.28, for a total value of $1,602,640.00. Following the transaction, the president now directly owns 170,844 shares in the company, valued at $21,061,648.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven Alan Denny sold 5,152 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $123.52, for a total transaction of $636,375.04. Following the sale, the executive vice president now owns 13,271 shares of the company’s stock, valued at approximately $1,639,233.92. The disclosure for this sale can be found here. Insiders have sold 90,867 shares of company stock worth $11,016,089 in the last ninety days. Insiders own 2.10% of the company’s stock.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.