Floor & Decor (NYSE:FND) Shares Gap Up on Analyst Upgrade

Floor & Decor Holdings, Inc. (NYSE:FND) shares gapped up before the market opened on Wednesday after Piper Sandler upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $60.79, but opened at $63.75. Piper Sandler now has a $80.00 price target on the stock, up from their previous price target of $75.00. Floor & Decor shares last traded at $62.5550, with a volume of 861,327 shares trading hands.

A number of other brokerages have also recently issued reports on FND. Evercore ISI reduced their price objective on shares of Floor & Decor from $75.00 to $65.00 and set an “in-line” rating for the company in a research note on Tuesday. Wolfe Research initiated coverage on shares of Floor & Decor in a research note on Thursday, September 18th. They set an “underperform” rating and a $76.00 price target on the stock. Morgan Stanley dropped their target price on Floor & Decor from $105.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Wall Street Zen lowered shares of Floor & Decor from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Guggenheim cut their target price on Floor & Decor from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.40.

Insider Activity at Floor & Decor

In other Floor & Decor news, President Bradley Paulsen acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $60.27 per share, for a total transaction of $301,350.00. Following the acquisition, the president owned 30,000 shares in the company, valued at approximately $1,808,100. This trade represents a 20.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Floor & Decor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FND. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Floor & Decor by 42.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company’s stock valued at $41,000 after purchasing an additional 152 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Floor & Decor in the first quarter valued at approximately $47,000. State of Wyoming acquired a new position in Floor & Decor in the 2nd quarter worth approximately $46,000. Steph & Co. purchased a new position in Floor & Decor during the 3rd quarter worth approximately $48,000. Finally, Mather Group LLC. acquired a new stake in Floor & Decor during the 3rd quarter valued at approximately $49,000.

Floor & Decor Price Performance

The firm has a market capitalization of $6.81 billion, a PE ratio of 31.61, a P/E/G ratio of 2.65 and a beta of 1.70. The firm’s fifty day moving average price is $73.97 and its 200 day moving average price is $76.65. The company has a current ratio of 1.27, a quick ratio of 0.34 and a debt-to-equity ratio of 0.08.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Floor & Decor had a return on equity of 9.34% and a net margin of 4.65%.Floor & Decor’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.870-1.970 EPS. As a group, equities analysts forecast 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.