Fred Alger Management LLC Cuts Stake in Floor & Decor Holdings, Inc. (NYSE:FND)

Fred Alger Management LLC cut its holdings in shares of Floor & Decor Holdings, Inc. (NYSE:FND) by 41.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,818 shares of the company’s stock after selling 22,237 shares during the quarter. Fred Alger Management LLC’s holdings in Floor & Decor were worth $3,073,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FND. Huntington National Bank raised its position in Floor & Decor by 120.5% in the 4th quarter. Huntington National Bank now owns 344 shares of the company’s stock worth $34,000 after purchasing an additional 188 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Floor & Decor in the fourth quarter worth about $35,000. Blue Trust Inc. lifted its stake in shares of Floor & Decor by 59.9% in the 4th quarter. Blue Trust Inc. now owns 443 shares of the company’s stock valued at $44,000 after acquiring an additional 166 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in Floor & Decor during the 4th quarter valued at about $49,000. Finally, Proficio Capital Partners LLC bought a new position in Floor & Decor during the 4th quarter worth approximately $49,000.

Floor & Decor Stock Up 0.4 %

Shares of Floor & Decor stock opened at $75.52 on Friday. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $126.74. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 19.06 and a beta of 1.79. The company has a 50-day moving average of $77.77 and a 200 day moving average of $93.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29.

Floor & Decor (NYSE:FND) last announced its earnings results on Thursday, May 1st. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Floor & Decor had a net margin of 4.62% and a return on equity of 9.80%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Mizuho dropped their price objective on Floor & Decor from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus dropped their price target on shares of Floor & Decor from $110.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Telsey Advisory Group restated an “outperform” rating and issued a $115.00 price objective on shares of Floor & Decor in a research report on Monday, April 28th. Piper Sandler dropped their target price on shares of Floor & Decor from $90.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Wedbush cut Floor & Decor from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $100.00 in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Floor & Decor has an average rating of “Hold” and a consensus target price of $93.56.

Floor & Decor Profile

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.