Wedbush Equities Analysts Boost Earnings Estimates for Floor & Decor Holdings Inc (FND)
Floor & Decor Holdings Inc (NYSE:FND) – Research analysts at Wedbush boosted their FY2017 EPS estimates for shares of Floor & Decor in a research note issued on Monday. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $0.68 for the year, up from their prior estimate of $0.65. Wedbush also issued estimates for Floor & Decor’s Q4 2017 earnings at $0.18 EPS, Q4 2018 earnings at $0.21 EPS, FY2018 earnings at $0.87 EPS, FY2019 earnings at $1.07 EPS and FY2020 earnings at $1.29 EPS.
Floor & Decor (NYSE:FND) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. Floor & Decor had a net margin of 5.62% and a return on equity of 26.39%. The business had revenue of $343.90 million for the quarter, compared to analysts’ expectations of $338.62 million. During the same quarter last year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year.
FND has been the topic of several other research reports. Zacks Investment Research cut shares of Floor & Decor from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 target price (up previously from $47.00) on shares of Floor & Decor in a research note on Monday. Wells Fargo & Co set a $45.00 target price on shares of Floor & Decor and gave the company a “hold” rating in a research note on Monday. JPMorgan Chase & Co. started coverage on shares of Floor & Decor in a research note on Monday, October 16th. They set an “overweight” rating and a $46.00 target price on the stock. Finally, Jefferies Group lifted their price objective on shares of Floor & Decor from $38.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.13.
Floor & Decor (NYSE FND) opened at $46.25 on Wednesday. The company has a market cap of $4,390.00 and a PE ratio of 63.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33. Floor & Decor has a 52 week low of $29.37 and a 52 week high of $49.86.
Several hedge funds have recently bought and sold shares of FND. FNY Partners Fund LP bought a new position in Floor & Decor during the third quarter valued at approximately $116,000. Toronto Dominion Bank bought a new position in Floor & Decor during the second quarter valued at approximately $157,000. Public Employees Retirement System of Ohio bought a new position in Floor & Decor during the second quarter valued at approximately $179,000. Principal Financial Group Inc. bought a new position in Floor & Decor during the third quarter valued at approximately $208,000. Finally, Balyasny Asset Management LLC bought a new position in Floor & Decor during the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 93.49% of the company’s stock.
In related news, Director George Vincent West sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $34.92, for a total transaction of $4,365,000.00. Following the completion of the sale, the director now directly owns 3,095 shares in the company, valued at $108,077.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David Victor Christopherson sold 32,181 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $41.20, for a total transaction of $1,325,857.20. Following the sale, the senior vice president now owns 41,117 shares of the company’s stock, valued at $1,694,020.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,647,246 shares of company stock valued at $201,948,218.
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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