Floor & Decor (NYSE:FND) Stock Gets Price Target Reduction from Morgan Stanley

Floor & Decor (NYSE:FND) had its price objective trimmed by Morgan Stanley from $64.00 to $60.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on FND. The Goldman Sachs Group cut shares of Floor & Decor from a “neutral” rating to a “sell” rating and cut their price objective for the company from $53.00 to $38.00 in a research report on Monday. Citigroup lowered their target price on shares of Floor & Decor from $59.00 to $49.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. UBS Group cut shares of Floor & Decor from a “neutral” rating to a “market perform” rating and dropped their price target for the stock from $60.00 to $54.00 in a research note on Friday, October 30th. Zacks Research downgraded shares of Floor & Decor from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Floor & Decor from $52.00 to $51.00 and set a “hold” rating on the stock in a research report on Monday. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $54.70.

Floor & Decor Price Performance

Shares of Floor & Decor stock opened at $53.46 on Monday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 4.05 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.44 and a current ratio of 1.32. The stock has a 50 day moving average price of $47.54 and a 200-day moving average price of $54.52. Floor & Decor has a one year low of $42.64 and a one year high of $77.46.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Floor & Decor had a return on equity of 8.40% and a net margin of 5.05%. Floor & Decor’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Equities analysts expect that Floor & Decor will post 1.92 EPS for the current year.

Insider Transactions at Floor & Decor

In related news, insider Thomas V. Taylor sold 218,189 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $62.30, for a total transaction of $13,593,174.70. Following the completion of the transaction, the insider owned 229,820 shares in the company, valued at $14,317,786. The trade was a 48.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Floor & Decor

A number of hedge funds and other institutional investors have recently bought and sold shares of FND. Madison Asset Management LLC bought a new position in Floor & Decor in the second quarter worth approximately $78,941,000. Turtle Creek Asset Management Inc. increased its holdings in Floor & Decor by 41.7% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,757,643 shares of the company’s stock worth $140,088,000 after purchasing an additional 811,910 shares during the period. Dimensional Fund Advisors LP increased its holdings in Floor & Decor by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,606,871 shares of the company’s stock worth $132,424,000 after purchasing an additional 659,355 shares during the period. Alua Capital Management LP purchased a new position in Floor & Decor during the 1st quarter worth $22,393,000. Finally, Principal Financial Group Inc. raised its position in Floor & Decor by 6.5% during the 1st quarter. Principal Financial Group Inc. now owns 6,837,639 shares of the company’s stock valued at $347,354,000 after purchasing an additional 416,572 shares in the last quarter.

About Floor & Decor

Floor & Decor Holdings, Inc is a specialty retailer focused on hard-surface flooring and related products. The company offers a broad selection of tile, natural stone, wood, laminate and vinyl flooring, along with installation materials, tools, accessories and home-decor items.

Floor & Decor serves homeowners, professional installers, designers, remodelers and commercial customers through warehouse-format stores, smaller design studios and its e-commerce platform. Its stores are designed to provide a wide product assortment for renovation and construction projects, while also offering services such as design support and product fulfillment.

Founded in 2000 and headquartered in Atlanta, Georgia, Floor & Decor operates primarily in the United States.