Floor & Decor (FND) Earns Buy Rating from Analysts at Stifel Nicolaus
Stifel Nicolaus initiated coverage on shares of Floor & Decor (NYSE:FND) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $51.00 price objective on the stock.
A number of other brokerages also recently issued reports on FND. BMO Capital Markets increased their price target on shares of Floor & Decor from $41.00 to $45.00 and gave the stock a market perform rating in a report on Monday, November 6th. Zacks Investment Research raised shares of Floor & Decor from a hold rating to a buy rating and set a $46.00 price target on the stock in a report on Monday, November 6th. Piper Jaffray Companies reissued a hold rating and set a $42.00 price target on shares of Floor & Decor in a report on Thursday, October 12th. J P Morgan Chase & Co assumed coverage on shares of Floor & Decor in a report on Monday, October 16th. They set an overweight rating and a $46.00 price target on the stock. Finally, Bank of America reissued a buy rating and set a $42.00 price target on shares of Floor & Decor in a report on Tuesday, September 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $43.44.
Shares of Floor & Decor (NYSE FND) opened at $43.55 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47. Floor & Decor has a twelve month low of $29.37 and a twelve month high of $46.99.
In other Floor & Decor news, SVP David Victor Christopherson sold 32,181 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $41.20, for a total transaction of $1,325,857.20. Following the transaction, the senior vice president now directly owns 41,117 shares of the company’s stock, valued at $1,694,020.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Vincent West sold 50,000 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $37.90, for a total transaction of $1,895,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,277,666 shares of company stock worth $185,289,781.
A number of institutional investors and hedge funds have recently bought and sold shares of FND. Ares Management LLC purchased a new position in Floor & Decor during the second quarter valued at $2,049,069,000. FS Capital Partners VI LLC purchased a new position in Floor & Decor during the second quarter valued at $993,798,000. TimesSquare Capital Management LLC lifted its holdings in Floor & Decor by 1,007.3% during the third quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock valued at $64,659,000 after purchasing an additional 1,510,900 shares in the last quarter. Vanguard Group Inc. purchased a new position in Floor & Decor during the second quarter valued at $32,590,000. Finally, Alliancebernstein L.P. purchased a new position in Floor & Decor during the second quarter valued at $31,751,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.
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About Floor & Decor
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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