Piper Jaffray Companies Reaffirms Hold Rating for Floor & Decor (FND)
Piper Jaffray Companies reaffirmed their hold rating on shares of Floor & Decor (NYSE:FND) in a research note issued to investors on Tuesday morning. They currently have a $50.00 price objective on the stock.
A number of other analysts have also issued reports on the company. Zacks Investment Research raised Floor & Decor from a hold rating to a buy rating and set a $45.00 target price on the stock in a research report on Tuesday, September 12th. Telsey Advisory Group raised Floor & Decor from a market perform rating to an outperform rating and lifted their target price for the stock from $39.00 to $47.00 in a research report on Friday, November 3rd. BMO Capital Markets lifted their target price on Floor & Decor from $41.00 to $45.00 and gave the stock a market perform rating in a research report on Monday, November 6th. Stifel Nicolaus started coverage on Floor & Decor in a research report on Wednesday, December 13th. They set a buy rating and a $51.00 target price on the stock. Finally, Credit Suisse Group lifted their target price on Floor & Decor from $43.00 to $47.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Floor & Decor presently has a consensus rating of Buy and an average price target of $45.13.
Shares of Floor & Decor (NYSE:FND) traded up $1.17 during midday trading on Tuesday, hitting $48.14. The stock had a trading volume of 667,355 shares, compared to its average volume of 878,878. Floor & Decor has a twelve month low of $29.37 and a twelve month high of $49.86. The stock has a market capitalization of $4,580.00 and a price-to-earnings ratio of 65.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33.
In related news, EVP Brian K. Robbins sold 5,800 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $45.00, for a total value of $261,000.00. Following the completion of the sale, the executive vice president now directly owns 8,441 shares of the company’s stock, valued at $379,845. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas V. Taylor sold 155,392 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $45.71, for a total value of $7,102,968.32. Following the completion of the sale, the chief executive officer now directly owns 24,726 shares of the company’s stock, valued at $1,130,225.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,647,246 shares of company stock valued at $201,948,218.
A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Floor & Decor by 17.1% in the third quarter. Brighton Jones LLC now owns 11,834 shares of the company’s stock valued at $461,000 after buying an additional 1,731 shares during the last quarter. FNY Partners Fund LP bought a new stake in Floor & Decor in the third quarter valued at about $116,000. Toronto Dominion Bank acquired a new position in Floor & Decor in the second quarter valued at approximately $157,000. Public Employees Retirement System of Ohio acquired a new position in Floor & Decor in the second quarter valued at approximately $179,000. Finally, Principal Financial Group Inc. acquired a new position in Floor & Decor in the third quarter valued at approximately $208,000. 93.49% of the stock is owned by hedge funds and other institutional investors.
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Floor & Decor Company Profile
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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