Floor & Decor (NYSE:FND) Price Target Raised to $45.00 at Wedbush

Floor & Decor (NYSE:FND) had its price target raised by Wedbush from $40.00 to $45.00 in a report published on Thursday morning, The Fly reports. Wedbush currently has an outperform rating on the stock.

A number of other research analysts have also commented on FND. UBS Group lowered their price target on Floor & Decor from $55.00 to $51.00 and set a buy rating on the stock in a report on Friday, August 2nd. Zacks Investment Research raised Floor & Decor from a sell rating to a hold rating in a research note on Monday. Citigroup decreased their target price on Floor & Decor from $51.00 to $50.00 and set a buy rating for the company in a research note on Friday, August 2nd. Telsey Advisory Group reaffirmed a market perform rating and set a $42.00 target price (down previously from $44.00) on shares of Floor & Decor in a research note on Friday, May 3rd. Finally, Longbow Research cut Floor & Decor from a buy rating to a neutral rating and set a $46.51 target price for the company. in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Floor & Decor presently has an average rating of Hold and an average price target of $43.48.

Shares of FND traded down $0.43 during trading hours on Thursday, reaching $42.00. 879,935 shares of the company’s stock traded hands, compared to its average volume of 1,223,398. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 1.60 and a beta of 2.13. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.33 and a quick ratio of 0.28. Floor & Decor has a twelve month low of $23.30 and a twelve month high of $48.72. The stock has a fifty day simple moving average of $41.24.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $520.31 million for the quarter, compared to analyst estimates of $510.73 million. Floor & Decor had a return on equity of 18.32% and a net margin of 6.35%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. On average, research analysts forecast that Floor & Decor will post 1.11 earnings per share for the current fiscal year.

In related news, major shareholder Fs Equity Partners Vi, L.P. sold 3,500,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $43.00, for a total value of $150,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Trevor Lang sold 42,335 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $44.02, for a total value of $1,863,586.70. Following the completion of the sale, the chief financial officer now directly owns 181,004 shares of the company’s stock, valued at $7,967,796.08. The disclosure for this sale can be found here. Insiders sold a total of 4,273,853 shares of company stock valued at $183,320,948 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in FND. FMR LLC raised its stake in shares of Floor & Decor by 44.3% during the 1st quarter. FMR LLC now owns 3,784,344 shares of the company’s stock worth $155,991,000 after purchasing an additional 1,161,156 shares in the last quarter. Timucuan Asset Management Inc. FL raised its stake in shares of Floor & Decor by 1.9% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,642,630 shares of the company’s stock worth $108,929,000 after purchasing an additional 49,213 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Floor & Decor by 6.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,490,382 shares of the company’s stock worth $104,347,000 after purchasing an additional 150,080 shares in the last quarter. Carillon Tower Advisers Inc. raised its stake in shares of Floor & Decor by 14.9% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,929,877 shares of the company’s stock worth $80,862,000 after purchasing an additional 250,550 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Floor & Decor by 9.4% during the 1st quarter. Neuberger Berman Group LLC now owns 1,909,420 shares of the company’s stock worth $78,706,000 after purchasing an additional 164,470 shares in the last quarter.

Floor & Decor Company Profile

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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Analyst Recommendations for Floor & Decor (NYSE:FND)

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