Floor & Decor’s (FND) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Floor & Decor (NYSE:FND) in a research note released on Friday, Benzinga reports. Wedbush currently has a $110.00 target price on the stock. Wedbush also issued estimates for Floor & Decor’s Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.68 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.53 EPS and Q4 2025 earnings at $0.36 EPS.

A number of other research analysts have also recently issued reports on the company. TD Cowen cut their price target on Floor & Decor from $115.00 to $100.00 and set a hold rating for the company in a report on Friday, July 12th. Citigroup dropped their target price on shares of Floor & Decor from $109.00 to $104.00 and set a neutral rating for the company in a research note on Friday, July 19th. UBS Group decreased their price target on shares of Floor & Decor from $135.00 to $125.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Piper Sandler raised their price target on shares of Floor & Decor from $105.00 to $115.00 and gave the company a neutral rating in a report on Tuesday, April 9th. Finally, Truist Financial reduced their price objective on Floor & Decor from $130.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $103.32.

Floor & Decor Price Performance

Floor & Decor stock traded up $3.75 during trading hours on Friday, hitting $97.89. 4,632,778 shares of the stock were exchanged, compared to its average volume of 2,302,808. The stock has a market capitalization of $10.48 billion, a P/E ratio of 47.29, a P/E/G ratio of 10.13 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.21 and a current ratio of 1.17. Floor & Decor has a 12 month low of $76.30 and a 12 month high of $135.67. The business’s 50-day moving average is $104.49 and its two-hundred day moving average is $111.50.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Floor & Decor had a return on equity of 10.85% and a net margin of 4.78%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $0.66 EPS. Floor & Decor’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that Floor & Decor will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas V. Taylor sold 34,199 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total value of $4,274,875.00. Following the completion of the transaction, the chief executive officer now owns 168,386 shares of the company’s stock, valued at approximately $21,048,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Floor & Decor news, Director Peter Starrett sold 1,569 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $122.61, for a total transaction of $192,375.09. Following the sale, the director now directly owns 118,620 shares in the company, valued at approximately $14,543,998.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $125.00, for a total transaction of $4,274,875.00. Following the completion of the transaction, the chief executive officer now owns 168,386 shares of the company’s stock, valued at approximately $21,048,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,778 shares of company stock worth $5,182,791. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Floor & Decor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in shares of Floor & Decor in the fourth quarter valued at about $4,161,000. Wellington Management Group LLP lifted its stake in Floor & Decor by 40.6% in the 4th quarter. Wellington Management Group LLP now owns 919,362 shares of the company’s stock valued at $102,564,000 after acquiring an additional 265,622 shares in the last quarter. Duality Advisers LP acquired a new position in Floor & Decor during the 1st quarter worth approximately $4,238,000. Yousif Capital Management LLC bought a new position in shares of Floor & Decor during the 4th quarter worth approximately $5,614,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Floor & Decor by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 726,850 shares of the company’s stock worth $81,099,000 after acquiring an additional 79,210 shares in the last quarter.

About Floor & Decor

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.