Floor & Decor Holdings, Inc. (FND) Given Consensus Rating of “Buy” by Brokerages
Floor & Decor Holdings, Inc. (NYSE:FND) has been given a consensus rating of “Buy” by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $42.93.
A number of research analysts recently issued reports on FND shares. Bank of America Corporation reiterated a “buy” rating and set a $42.00 price objective on shares of Floor & Decor Holdings in a research note on Tuesday, September 5th. Zacks Investment Research downgraded Floor & Decor Holdings from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Wedbush upgraded Floor & Decor Holdings from a “neutral” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Monday, July 24th. They noted that the move was a valuation call. J P Morgan Chase & Co began coverage on Floor & Decor Holdings in a research note on Monday, October 16th. They issued an “overweight” rating and a $46.00 price target for the company. Finally, Telsey Advisory Group upgraded Floor & Decor Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $39.00 to $47.00 in a research note on Friday, November 3rd.
In other news, SVP David Victor Christopherson sold 32,181 shares of Floor & Decor Holdings stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $41.20, for a total value of $1,325,857.20. Following the sale, the senior vice president now directly owns 41,117 shares of the company’s stock, valued at $1,694,020.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian K. Robbins sold 9,600 shares of Floor & Decor Holdings stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $41.20, for a total value of $395,520.00. Following the completion of the sale, the executive vice president now directly owns 13,160 shares in the company, valued at $542,192. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,781 shares of company stock worth $7,341,477.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FND. Ares Management LLC purchased a new stake in Floor & Decor Holdings in the second quarter valued at $2,049,069,000. FS Capital Partners VI LLC purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at $993,798,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at $79,390,000. TimesSquare Capital Management LLC raised its holdings in shares of Floor & Decor Holdings by 1,007.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock valued at $64,659,000 after buying an additional 1,510,900 shares during the period. Finally, Vanguard Group Inc. purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at $32,590,000. 90.17% of the stock is currently owned by institutional investors.
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Floor & Decor Holdings (FND) traded down $0.59 during midday trading on Monday, hitting $39.94. 340,000 shares of the stock traded hands, compared to its average volume of 512,420. Floor & Decor Holdings has a 12-month low of $29.37 and a 12-month high of $46.99. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.47.
Floor & Decor Holdings (NYSE:FND) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Floor & Decor Holdings had a net margin of 5.62% and a return on equity of 26.39%. The firm had revenue of $343.90 million during the quarter, compared to analyst estimates of $338.62 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. sell-side analysts forecast that Floor & Decor Holdings will post 0.66 EPS for the current fiscal year.
About Floor & Decor Holdings
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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