Floor & Decor (NYSE:FND) had its target price lifted by analysts at JPMorgan Chase & Co. from $27.00 to $30.00 in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential downside of 6.19% from the stock’s current price.
A number of other research analysts have also recently commented on FND. Loop Capital raised their price target on Floor & Decor from $55.00 to $60.00 and gave the stock an “average” rating in a research report on Monday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, August 21st. Guggenheim assumed coverage on Floor & Decor in a research report on Wednesday, August 8th. They issued a “buy” rating on the stock. Longbow Research assumed coverage on Floor & Decor in a research report on Friday, August 24th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Citigroup assumed coverage on Floor & Decor in a research report on Wednesday, October 10th. They issued a “buy” rating and a $44.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.35.
Shares of FND traded up $0.25 during midday trading on Friday, reaching $31.98. 3,459,380 shares of the stock were exchanged, compared to its average volume of 1,174,067. Floor & Decor has a twelve month low of $24.01 and a twelve month high of $58.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.21 and a current ratio of 1.50. The company has a market capitalization of $2.48 billion, a P/E ratio of 46.35, a P/E/G ratio of 1.07 and a beta of -1.56.
Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, November 1st. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Floor & Decor had a return on equity of 19.93% and a net margin of 9.10%. The company had revenue of $435.90 million during the quarter, compared to the consensus estimate of $428.88 million. During the same quarter last year, the firm earned $0.17 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. On average, equities research analysts predict that Floor & Decor will post 0.95 earnings per share for the current fiscal year.
In other Floor & Decor news, major shareholder Corporate Opportunities F. Ares sold 7,744,108 shares of Floor & Decor stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $37.00, for a total value of $286,531,996.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FND. Northern Trust Corp grew its position in Floor & Decor by 4.4% in the first quarter. Northern Trust Corp now owns 159,433 shares of the company’s stock valued at $8,310,000 after acquiring an additional 6,752 shares during the last quarter. California State Teachers Retirement System grew its position in Floor & Decor by 29.7% in the first quarter. California State Teachers Retirement System now owns 45,063 shares of the company’s stock valued at $2,349,000 after acquiring an additional 10,327 shares during the last quarter. Guggenheim Capital LLC bought a new position in Floor & Decor in the first quarter valued at about $279,000. Legal & General Group Plc grew its position in Floor & Decor by 307.1% in the first quarter. Legal & General Group Plc now owns 14,632 shares of the company’s stock valued at $763,000 after acquiring an additional 11,038 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Floor & Decor by 1.6% in the first quarter. Royal Bank of Canada now owns 198,133 shares of the company’s stock valued at $10,327,000 after acquiring an additional 3,085 shares during the last quarter.
About Floor & Decor
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.
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