Floor & Decor (NYSE:FND) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Floor & Decor (NYSE:FND) in a report released on Wednesday, FlyOnTheWall reports. The brokerage issued a buy rating on the stock.

A number of other equities analysts have also commented on FND. Citigroup reduced their target price on shares of Floor & Decor from $133.00 to $122.00 in a research report on Friday, August 4th. Credit Suisse Group reaffirmed a neutral rating and set a $95.00 target price on shares of Floor & Decor in a research report on Friday, August 4th. Wedbush cut their price target on Floor & Decor from $115.00 to $110.00 in a research note on Friday, August 4th. Truist Financial assumed coverage on Floor & Decor in a research note on Friday, June 23rd. They set a buy rating and a $120.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Floor & Decor from $125.00 to $115.00 and set an overweight rating on the stock in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $103.19.

Floor & Decor Stock Performance

Floor & Decor stock opened at $96.94 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.20 and a quick ratio of 0.15. The company’s 50-day moving average is $105.12 and its 200 day moving average is $97.82. Floor & Decor has a 1-year low of $63.51 and a 1-year high of $116.03. The firm has a market capitalization of $10.32 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.41 and a beta of 1.96.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, August 3rd. The company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. Floor & Decor had a return on equity of 16.94% and a net margin of 6.55%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that Floor & Decor will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Steven Alan Denny sold 6,381 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $103.59, for a total value of $661,007.79. Following the sale, the executive vice president now directly owns 12,419 shares of the company’s stock, valued at approximately $1,286,484.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Steven Alan Denny sold 6,381 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $103.59, for a total value of $661,007.79. Following the sale, the executive vice president now directly owns 12,419 shares of the company’s stock, valued at approximately $1,286,484.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas V. Taylor sold 18,656 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $115.00, for a total value of $2,145,440.00. Following the completion of the sale, the chief executive officer now owns 177,891 shares in the company, valued at approximately $20,457,465. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,301 shares of company stock valued at $5,984,168. 2.50% of the stock is owned by insiders.

Institutional Trading of Floor & Decor

A number of hedge funds have recently modified their holdings of FND. Ahrens Investment Partners LLC purchased a new stake in Floor & Decor during the first quarter worth $29,000. Spire Wealth Management boosted its position in Floor & Decor by 1,063.3% during the first quarter. Spire Wealth Management now owns 349 shares of the company’s stock worth $34,000 after purchasing an additional 319 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Floor & Decor during the first quarter worth approximately $39,000. Whittier Trust Co. of Nevada Inc. boosted its position in Floor & Decor by 54.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 464 shares of the company’s stock worth $46,000 after purchasing an additional 163 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in Floor & Decor during the fourth quarter worth approximately $35,000.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer and commercial flooring distributor in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools.