Floor & Decor (NYSE:FND) Stock Price Target Lowered at Morgan Stanley

Floor & Decor (NYSE:FND) had its target price dropped by analysts at Morgan Stanley from $64.00 to $60.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley‘s price target suggests a potential upside of 21.92% from the stock’s current price.

Several other research analysts have also issued reports on FND. Citigroup dropped their target price on Floor & Decor from $59.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. The Goldman Sachs Group downgraded Floor & Decor from a “neutral” rating to a “sell” rating and set a $38.00 price target on the stock. in a report on Monday. Zacks Research cut Floor & Decor from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Weiss Ratings downgraded Floor & Decor from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Finally, Evercore reiterated a “positive” rating on shares of Floor & Decor in a research note on Friday. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $54.70.

Floor & Decor Trading Up 3.4%

Shares of FND traded up $1.62 during midday trading on Monday, hitting $49.21. The stock had a trading volume of 1,139,078 shares, compared to its average volume of 2,739,398. Floor & Decor has a 1 year low of $42.64 and a 1 year high of $77.46. The firm has a market cap of $5.24 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 3.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 0.44. The stock’s 50 day moving average is $47.80 and its 200 day moving average is $54.90.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Floor & Decor had a net margin of 5.05% and a return on equity of 8.40%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Floor & Decor will post 1.93 EPS for the current fiscal year.

Insider Transactions at Floor & Decor

In other Floor & Decor news, insider Thomas V. Taylor sold 218,189 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $62.30, for a total transaction of $13,593,174.70. Following the transaction, the insider directly owned 229,820 shares in the company, valued at $14,317,786. This trade represents a 48.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Floor & Decor

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Floor & Decor by 6.5% during the first quarter. Principal Financial Group Inc. now owns 6,837,639 shares of the company’s stock valued at $347,354,000 after buying an additional 416,572 shares during the period. Turtle Creek Asset Management Inc. raised its position in shares of Floor & Decor by 41.7% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,757,643 shares of the company’s stock worth $140,088,000 after acquiring an additional 811,910 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Floor & Decor by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,606,871 shares of the company’s stock valued at $132,424,000 after purchasing an additional 659,355 shares in the last quarter. Bank of America Corp DE grew its stake in Floor & Decor by 15.6% in the first quarter. Bank of America Corp DE now owns 1,501,698 shares of the company’s stock valued at $76,286,000 after purchasing an additional 202,977 shares during the last quarter. Finally, Worldly Partners Management LLC raised its holdings in Floor & Decor by 3.2% in the second quarter. Worldly Partners Management LLC now owns 1,371,180 shares of the company’s stock worth $81,393,000 after purchasing an additional 42,000 shares in 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.