Wells Fargo & Company Issues Pessimistic Forecast for Floor & Decor (NYSE:FND) Stock Price

Floor & Decor (NYSE:FND) had its target price dropped by analysts at Wells Fargo & Company from $80.00 to $75.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.06% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho cut their price target on shares of Floor & Decor from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday. Telsey Advisory Group restated an “outperform” rating and issued a $115.00 target price on shares of Floor & Decor in a research note on Monday, April 28th. Piper Sandler decreased their price target on Floor & Decor from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. Evercore ISI cut their price objective on Floor & Decor from $95.00 to $90.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, Gordon Haskett downgraded Floor & Decor from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.65.

Floor & Decor Stock Performance

NYSE:FND opened at $74.21 on Friday. The firm has a 50-day moving average of $79.84 and a two-hundred day moving average of $94.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29. The stock has a market cap of $7.97 billion, a P/E ratio of 39.06, a PEG ratio of 19.06 and a beta of 1.79. Floor & Decor has a 1-year low of $66.01 and a 1-year high of $126.74.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Floor & Decor had a return on equity of 9.80% and a net margin of 4.62%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. Floor & Decor’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that Floor & Decor will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of Floor & Decor by 76.8% during the fourth quarter. Capital Research Global Investors now owns 13,316,446 shares of the company’s stock worth $1,327,653,000 after buying an additional 5,784,573 shares during the period. Principal Financial Group Inc. boosted its position in Floor & Decor by 106.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,023,172 shares of the company’s stock worth $243,275,000 after acquiring an additional 1,558,409 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Floor & Decor by 12,208.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,327,267 shares of the company’s stock worth $132,329,000 after purchasing an additional 1,316,484 shares in the last quarter. Fisher Funds Management LTD acquired a new position in shares of Floor & Decor during the fourth quarter valued at $128,797,000. Finally, Marshall Wace LLP bought a new stake in shares of Floor & Decor during the fourth quarter valued at about $109,574,000.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.