Telsey Advisory Group Reaffirms “Outperform” Rating for Floor & Decor (FND)

Floor & Decor (NYSE:FND)‘s stock had its “outperform” rating reiterated by analysts at Telsey Advisory Group in a report released on Monday, MarketBeat reports. They presently have a $54.00 price objective on the stock, up from their prior price objective of $47.00. Telsey Advisory Group’s price target would suggest a potential upside of 17.01% from the company’s previous close.

FND has been the topic of several other research reports. Zacks Investment Research downgraded Floor & Decor from a “buy” rating to a “hold” rating in a report on Monday, September 11th. JPMorgan Chase & Co. initiated coverage on Floor & Decor in a report on Monday, October 16th. They set an “overweight” rating and a $46.00 price objective on the stock. Jefferies Group boosted their price objective on Floor & Decor from $38.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Credit Suisse Group boosted their price objective on Floor & Decor from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $42.00 target price on shares of Floor & Decor in a report on Thursday, October 12th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.13.

Shares of Floor & Decor (NYSE:FND) opened at $46.15 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33. The stock has a market capitalization of $4,390.00 and a PE ratio of 63.22. Floor & Decor has a twelve month low of $29.37 and a twelve month high of $49.86.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The firm had revenue of $343.90 million for the quarter, compared to the consensus estimate of $338.62 million. Floor & Decor had a return on equity of 26.39% and a net margin of 5.62%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. equities analysts expect that Floor & Decor will post 0.66 earnings per share for the current year.

In related news, Director George Vincent West sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.92, for a total value of $4,365,000.00. Following the completion of the sale, the director now owns 3,095 shares of the company’s stock, valued at approximately $108,077.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Corporate Opportunities F. Ares sold 4,853,847 shares of the business’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 value of $169,496,337.24. The disclosure for this sale can be found here. Insiders sold a total of 5,647,246 shares of company stock worth $201,948,218 in the last quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ares Management LLC bought a new stake in shares of Floor & Decor in the 2nd quarter valued at approximately $2,049,069,000. FS Capital Partners VI LLC bought a new stake in shares of Floor & Decor in the 2nd quarter valued at approximately $993,798,000. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Floor & Decor by 30.8% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,644,866 shares of the company’s stock valued at $102,965,000 after buying an additional 622,703 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Floor & Decor 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 in the last quarter. Finally, Vanguard Group Inc. bought a new stake in shares of Floor & Decor in the 2nd quarter valued at approximately $32,590,000. 93.49% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Floor & Decor (NYSE:FND)

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