Twinbeech Capital LP Acquires New Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Twinbeech Capital LP acquired a new stake in Floor & Decor Holdings, Inc. (NYSE:FND) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 133,645 shares of the company’s stock, valued at approximately $13,324,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in shares of Floor & Decor by 76.8% in the fourth quarter. Capital Research Global Investors now owns 13,316,446 shares of the company’s stock valued at $1,327,653,000 after purchasing an additional 5,784,573 shares during the period. Vanguard Group Inc. lifted its stake in shares of Floor & Decor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 9,792,571 shares of the company’s stock valued at $976,319,000 after purchasing an additional 133,766 shares during the period. Timucuan Asset Management Inc. FL increased its holdings in Floor & Decor by 0.4% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 1,790,938 shares of the company’s stock valued at $178,557,000 after acquiring an additional 7,329 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Floor & Decor by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,617,658 shares of the company’s stock valued at $200,865,000 after acquiring an additional 223,332 shares in the last quarter. Finally, Two Creeks Capital Management LP increased its holdings in Floor & Decor by 7.6% during the 4th quarter. Two Creeks Capital Management LP now owns 1,587,590 shares of the company’s stock valued at $158,283,000 after acquiring an additional 112,001 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wedbush downgraded shares of Floor & Decor from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $110.00 to $100.00 in a report on Friday, February 14th. Loop Capital dropped their target price on shares of Floor & Decor from $95.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Guggenheim dropped their target price on shares of Floor & Decor from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Floor & Decor from $103.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Evercore ISI dropped their target price on shares of Floor & Decor from $95.00 to $90.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Floor & Decor presently has an average rating of “Hold” and an average target price of $93.56.

Floor & Decor Price Performance

Floor & Decor stock opened at $79.19 on Tuesday. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $126.24. The firm has a 50 day moving average price of $76.58 and a 200 day moving average price of $92.77. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 19.06 and a beta of 1.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 1.16.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, May 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Floor & Decor had a net margin of 4.62% and a return on equity of 9.80%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. Floor & Decor’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current year.

About Floor & Decor

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.