Floor & Decor (NYSE:FND) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Floor & Decor (NYSE:FND) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. They currently have $55.00 price target on the stock.

According to Zacks, “Floor & Decor Holdings, Inc. is a multi-channel specialty retailer of hard surface flooring and related accessories which offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring. Floor & Decor Holdings, Inc. is headquartered in Smyrna, Georgia. “

Several other research analysts have also commented on FND. TheStreet lowered shares of Floor & Decor from a b- rating to a c+ rating in a research note on Tuesday, September 10th. UBS Group dropped their price objective on shares of Floor & Decor from $55.00 to $51.00 and set a buy rating for the company in a research note on Friday, August 2nd. Guggenheim set a $55.00 price objective on shares of Floor & Decor and gave the stock a buy rating in a research note on Thursday, September 12th. Morgan Stanley lifted their price objective on shares of Floor & Decor from $38.00 to $41.00 and gave the stock an equal weight rating in a research note on Thursday, August 22nd. Finally, Citigroup lowered their target price on shares of Floor & Decor from $51.00 to $50.00 and set a buy rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $44.53.

NYSE FND opened at $49.04 on Thursday. The company has a quick ratio of 0.28, a current ratio of 1.33 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $46.35 and a two-hundred day moving average of $42.48. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 1.90 and a beta of 1.94. Floor & Decor has a 52 week low of $23.30 and a 52 week high of $50.00.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $520.31 million during the quarter, compared to analyst estimates of $510.73 million. Floor & Decor had a net margin of 6.35% and a return on equity of 18.32%. Floor & Decor’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that Floor & Decor will post 1.11 EPS for the current year.

In other news, CFO Trevor Lang sold 42,335 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $44.02, for a total transaction of $1,863,586.70. Following the completion of the sale, the chief financial officer now directly owns 181,004 shares of the company’s stock, valued at $7,967,796.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Vincent West sold 371,597 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $42.39, for a total transaction of $15,751,996.83. Following the sale, the director now directly owns 15,077 shares of the company’s stock, valued at $639,114.03. The disclosure for this sale can be found here. Insiders have sold 4,544,057 shares of company stock valued at $196,860,367 over the last three months. Insiders own 7.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Floor & Decor by 44.3% in the first quarter. FMR LLC now owns 3,784,344 shares of the company’s stock valued at $155,991,000 after acquiring an additional 1,161,156 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Floor & Decor by 8.1% in the second quarter. BlackRock Inc. now owns 2,932,767 shares of the company’s stock valued at $122,882,000 after acquiring an additional 219,543 shares in the last quarter. Two Creeks Capital Management LP raised its holdings in shares of Floor & Decor by 120.6% in the second quarter. Two Creeks Capital Management LP now owns 2,676,450 shares of the company’s stock valued at $112,143,000 after acquiring an additional 1,462,961 shares in the last quarter. Timucuan Asset Management Inc. FL raised its holdings in shares of Floor & Decor by 1.9% in the first quarter. Timucuan Asset Management Inc. FL now owns 2,642,630 shares of the company’s stock valued at $108,929,000 after acquiring an additional 49,213 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its holdings in shares of Floor & Decor by 6.4% in the second quarter. Wasatch Advisors Inc. now owns 2,490,382 shares of the company’s stock valued at $104,347,000 after acquiring an additional 150,080 shares in the last quarter.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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