Shares of Floor & Decor Holdings, Inc. (NYSE:FND) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $41.27.
A number of research analysts have recently weighed in on the company. UBS AG assumed coverage on Floor & Decor Holdings in a research note on Monday, May 22nd. They issued a “neutral” rating and a $39.00 price target on the stock. Credit Suisse Group set a $43.00 price target on Floor & Decor Holdings and gave the company a “buy” rating in a research note on Sunday, May 28th. Telsey Advisory Group increased their price target on Floor & Decor Holdings from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Zacks Investment Research raised Floor & Decor Holdings from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Monday, July 24th. Finally, Piper Jaffray Companies assumed coverage on Floor & Decor Holdings in a research note on Monday, May 22nd. They issued a “neutral” rating and a $40.00 price target on the stock.
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In related news, CFO Trevor Lang sold 46,200 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.50, for a total transaction of $1,778,700.00. Following the sale, the chief financial officer now owns 192,519 shares of the company’s stock, valued at approximately $7,411,981.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Corporate Opportunities F. Ares sold 6,772,781 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.50, for a total value of $260,752,068.50. The disclosure for this sale can be found here. Insiders have sold a total of 7,118,047 shares of company stock worth $274,044,810 in the last ninety days.
A number of hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC acquired a new stake in shares of Floor & Decor Holdings during the second quarter valued at approximately $788,000. Russell Investments Group Ltd. acquired a new stake in shares of Floor & Decor Holdings during the second quarter valued at approximately $662,000. Spark Investment Management LLC acquired a new stake in shares of Floor & Decor Holdings during the second quarter valued at approximately $2,100,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Floor & Decor Holdings during the second quarter worth about $79,390,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Floor & Decor Holdings during the second quarter worth about $1,016,000. 2.24% of the stock is currently owned by institutional investors and hedge funds.
Floor & Decor Holdings (NYSE:FND) traded down 0.17% during mid-day trading on Friday, hitting $34.94. The stock had a trading volume of 404,092 shares. The stock has a 50 day moving average of $37.85 and a 200-day moving average of $37.72. The firm has a market cap of $3.29 billion and a P/E ratio of 51.46. Floor & Decor Holdings has a 1-year low of $29.37 and a 1-year high of $46.99.
Floor & Decor Holdings (NYSE:FND) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. The company had revenue of $344 million during the quarter, compared to analyst estimates of $343.73 million. Floor & Decor Holdings’s quarterly revenue was up 29.4% on a year-over-year basis. Analysts predict that Floor & Decor Holdings will post $0.60 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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