Floor & Decor (NYSE:FND) Shares Gap Down After Analyst Downgrade

Floor & Decor Holdings, Inc. (NYSE:FND) gapped down before the market opened on Friday after UBS Group lowered their price target on the stock from $135.00 to $125.00. The stock had previously closed at $112.76, but opened at $109.87. UBS Group currently has a neutral rating on the stock. Floor & Decor shares last traded at $115.47, with a volume of 637,688 shares.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Wells Fargo & Company downgraded Floor & Decor from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $85.00 to $105.00 in a research note on Thursday, January 4th. Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Floor & Decor in a research report on Friday. Bank of America boosted their target price on shares of Floor & Decor from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein lowered shares of Floor & Decor from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $108.76.

Insiders Place Their Bets

In other news, CAO David Victor Christopherson sold 6,850 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $118.70, for a total value of $813,095.00. Following the sale, the chief accounting officer now directly owns 25,271 shares in the company, valued at approximately $2,999,667.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO David Victor Christopherson sold 6,850 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $118.70, for a total transaction of $813,095.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,271 shares in the company, valued at $2,999,667.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bryan Langley sold 5,865 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total value of $702,978.90. Following the sale, the chief financial officer now directly owns 17,422 shares in the company, valued at approximately $2,088,200.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,867 shares of company stock valued at $11,016,089. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Floor & Decor

Several hedge funds and other institutional investors have recently made changes to their positions in FND. Benjamin F. Edwards & Company Inc. boosted its position in Floor & Decor by 4.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,202 shares of the company’s stock worth $285,000 after buying an additional 96 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Floor & Decor by 24.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 577 shares of the company’s stock worth $64,000 after purchasing an additional 113 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Floor & Decor by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,389 shares of the company’s stock valued at $2,609,000 after purchasing an additional 117 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Floor & Decor by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,141 shares of the company’s stock valued at $574,000 after purchasing an additional 120 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Floor & Decor by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,709 shares of the company’s stock worth $1,195,000 after purchasing an additional 121 shares during the last quarter.

Floor & Decor Price Performance

The company has a fifty day simple moving average of $118.90 and a 200 day simple moving average of $106.27. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 54.61, a P/E/G ratio of 5.46 and a beta of 1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.18 and a current ratio of 1.14.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Floor & Decor had a return on equity of 11.97% and a net margin of 5.11%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. Equities research analysts forecast that Floor & Decor Holdings, Inc. will post 1.91 EPS for the current fiscal year.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller 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; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.