Floor & Decor (NYSE:FND) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Floor & Decor (NYSE:FND) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks reports.

Several other research analysts have also recently commented on the stock. Morgan Stanley raised their target price on shares of Floor & Decor from $56.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Wall Street Zen raised Floor & Decor from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Piper Sandler raised their price target on Floor & Decor from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Wells Fargo & Company dropped their price target on Floor & Decor from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Finally, Citigroup decreased their target price on shares of Floor & Decor from $59.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Floor & Decor currently has a consensus rating of “Hold” and an average price target of $56.50.

Floor & Decor Stock Performance

Shares of NYSE FND opened at $47.48 on Tuesday. The stock’s fifty day moving average price is $48.08 and its two-hundred day moving average price is $55.15. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 3.88 and a beta of 1.60. Floor & Decor has a one year low of $42.64 and a one year high of $77.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 0.45.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Floor & Decor had a net margin of 4.93% and a return on equity of 8.20%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.58 earnings per share. Floor & Decor’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Floor & Decor will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other Floor & Decor news, insider Thomas V. Taylor sold 218,189 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $62.30, for a total transaction of $13,593,174.70. Following the sale, the insider owned 229,820 shares of the company’s stock, valued at approximately $14,317,786. The trade was a 48.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Floor & Decor

Large investors have recently bought and sold shares of the company. Madison Asset Management LLC purchased a new stake in Floor & Decor in the 2nd quarter valued at about $78,941,000. Turtle Creek Asset Management Inc. lifted its position in shares of Floor & Decor by 41.7% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,757,643 shares of the company’s stock worth $140,088,000 after buying an additional 811,910 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Floor & Decor by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,606,871 shares of the company’s stock worth $132,424,000 after buying an additional 659,355 shares during the last quarter. Alua Capital Management LP purchased a new position in shares of Floor & Decor in the 1st quarter worth approximately $22,393,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Floor & Decor by 6.5% in the 1st quarter. Principal Financial Group Inc. now owns 6,837,639 shares of the company’s stock worth $347,354,000 after buying an additional 416,572 shares during the last quarter.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc is a specialty retailer focused on hard-surface flooring and related products. The company offers a broad selection of tile, natural stone, wood, laminate and vinyl flooring, along with installation materials, tools, accessories and home-decor items.

Floor & Decor serves homeowners, professional installers, designers, remodelers and commercial customers through warehouse-format stores, smaller design studios and its e-commerce platform. Its stores are designed to provide a wide product assortment for renovation and construction projects, while also offering services such as design support and product fulfillment.

Founded in 2000 and headquartered in Atlanta, Georgia, Floor & Decor operates primarily in the United States.