Morgan Stanley Has Lowered Expectations for Floor & Decor (NYSE:FND) Stock Price

Floor & Decor (NYSE:FND) had its price objective cut by equities researchers at Morgan Stanley from $105.00 to $97.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 23.85% from the stock’s current price.

Several other research firms have also weighed in on FND. Loop Capital lowered their price target on Floor & Decor from $95.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Gordon Haskett lowered Floor & Decor from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Mizuho decreased their target price on Floor & Decor from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Telsey Advisory Group decreased their target price on Floor & Decor from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, July 28th. Finally, Evercore ISI decreased their target price on Floor & Decor from $85.00 to $80.00 and set an “in-line” rating on the stock in a report on Tuesday, June 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.56.

Floor & Decor Stock Up 2.2%

Shares of Floor & Decor stock opened at $78.32 on Friday. The business’s 50 day simple moving average is $77.15 and its 200 day simple moving average is $82.60. Floor & Decor has a 52-week low of $66.01 and a 52-week high of $124.68. The firm has a market cap of $8.43 billion, a PE ratio of 40.16, a P/E/G ratio of 2.43 and a beta of 1.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.27 and a current ratio of 1.22.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Floor & Decor had a return on equity of 9.49% and a net margin of 4.59%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. On average, analysts predict that Floor & Decor will post 2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Floor & Decor

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Floor & Decor during the 4th quarter worth $38,717,000. Envestnet Asset Management Inc. increased its holdings in Floor & Decor by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 276,559 shares of the company’s stock worth $22,255,000 after purchasing an additional 13,983 shares in the last quarter. Landscape Capital Management L.L.C. increased its holdings in Floor & Decor by 111.7% in the 4th quarter. Landscape Capital Management L.L.C. now owns 49,932 shares of the company’s stock worth $4,978,000 after purchasing an additional 26,344 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Floor & Decor by 28.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,170 shares of the company’s stock worth $255,000 after purchasing an additional 701 shares in the last quarter. Finally, Worldly Partners Management LLC increased its holdings in Floor & Decor by 5.5% in the 1st quarter. Worldly Partners Management LLC now owns 1,094,880 shares of the company’s stock worth $88,105,000 after purchasing an additional 57,500 shares in the last quarter.

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.