Wedbush Weighs in on Floor & Decor Holdings, Inc.’s Q3 2022 Earnings (NYSE:FND)

Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) – Wedbush cut their Q3 2022 EPS estimates for Floor & Decor in a research report issued on Tuesday, May 3rd. Wedbush analyst S. Basham now anticipates that the company will earn $0.73 per share for the quarter, down from their previous estimate of $0.74. Wedbush has a “Outperform” rating and a $130.00 price target on the stock. Wedbush also issued estimates for Floor & Decor’s Q4 2022 earnings at $0.71 EPS and FY2024 earnings at $4.94 EPS.

Floor & Decor (NYSE:FND – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Floor & Decor had a return on equity of 21.65% and a net margin of 8.25%. The company had revenue of $914.30 million for the quarter, compared to analyst estimates of $911.34 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year.

Several other research firms have also recently commented on FND. Morgan Stanley reduced their price target on Floor & Decor from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday, January 18th. Zacks Investment Research raised Floor & Decor from a “sell” rating to a “hold” rating in a report on Thursday, January 20th. Wells Fargo & Company reduced their price target on Floor & Decor from $130.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, April 7th. Piper Sandler reduced their price target on Floor & Decor from $136.00 to $102.00 in a report on Thursday, April 7th. Finally, Loop Capital reduced their price target on Floor & Decor from $135.00 to $105.00 and set a “hold” rating for the company in a report on Monday, February 28th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $128.50.

Floor & Decor stock opened at $83.57 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $88.65 and a two-hundred day moving average of $109.74. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.07 and a beta of 1.76. Floor & Decor has a twelve month low of $77.85 and a twelve month high of $145.89.

A number of institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. boosted its holdings in shares of Floor & Decor by 31.3% during the third quarter. Eagle Asset Management Inc. now owns 1,398,223 shares of the company’s stock worth $168,891,000 after purchasing an additional 332,953 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Floor & Decor by 9.6% during the third quarter. UBS Asset Management Americas Inc. now owns 158,134 shares of the company’s stock worth $19,101,000 after purchasing an additional 13,889 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Floor & Decor by 3.0% during the fourth quarter. CIBC Asset Management Inc now owns 4,348 shares of the company’s stock worth $565,000 after purchasing an additional 125 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Floor & Decor during the fourth quarter worth $1,863,000. Finally, Inspire Investing LLC acquired a new stake in shares of Floor & Decor during the third quarter worth $326,000. 96.48% of the stock is owned by institutional investors.

In related news, Director William T. Giles purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was bought at an average price of $96.00 per share, with a total value of $192,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Floor & Decor Company Profile (Get Rating)

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor 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.

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