Floor & Decor Holdings, Inc. (NYSE:FND)‘s stock had its “hold” rating reiterated by analysts at Wells Fargo & Company in a report released on Thursday, November 2nd. They presently have a $42.00 price objective on the stock. Wells Fargo & Company’s price target would indicate a potential upside of 6.57% from the company’s previous close.
The analysts wrote, “We are raising our FY17/18E EPS to $0.66/$0.81 and notching up adjusted EBITDA to $152.5M/$200.5 (vs. $143M/$182M prior). We anticipate gross margin expansion of 25bps in Q4 as FND product margins offset higher distribution network costs (expansions/relocations). Further, we expect continued sales momentum to offset deleverage from new store costs (10 and 17 new store openings in 2H’17 and FY18).””
Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group assumed coverage on shares of Floor & Decor Holdings in a report on Tuesday, July 11th. They issued a “market perform” rating and a $38.00 price objective for the company. Wedbush raised shares of Floor & Decor Holdings from a “neutral” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Monday, July 24th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Floor & Decor Holdings from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Monday, July 24th. Loop Capital began coverage on shares of Floor & Decor Holdings in a research note on Friday, August 18th. They set a “hold” rating and a $35.00 target price for the company. Finally, Bank of America Corporation reissued a “buy” rating and set a $42.00 target price on shares of Floor & Decor Holdings in a research note on Tuesday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Floor & Decor Holdings has a consensus rating of “Buy” and a consensus price target of $42.93.
Floor & Decor Holdings (NYSE FND) opened at $39.41 on Thursday. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. Floor & Decor Holdings has a 1-year low of $29.37 and a 1-year high of $46.99.
Floor & Decor Holdings (NYSE:FND) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The business had revenue of $343.90 million during the quarter, compared to the consensus estimate of $338.62 million. Floor & Decor Holdings had a net margin of 5.62% and a return on equity of 26.39%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. equities analysts forecast that Floor & Decor Holdings will post 0.66 EPS for the current year.
In other Floor & Decor Holdings news, Director George Vincent West sold 50,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $37.90, for a total transaction of $1,895,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David Victor Christopherson sold 32,181 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $41.20, for a total transaction of $1,325,857.20. Following the sale, the senior vice president now owns 41,117 shares in the company, valued at $1,694,020.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,781 shares of company stock worth $7,341,477.
Several large investors have recently made changes to their positions in the business. Ares Management LLC purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at approximately $2,049,069,000. FS Capital Partners VI LLC purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at approximately $993,798,000. Gilder Gagnon Howe & Co. LLC increased its position in shares of Floor & Decor Holdings by 30.8% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,644,866 shares of the company’s stock valued at $102,965,000 after purchasing an additional 622,703 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Floor & Decor Holdings by 1,007.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock valued at $64,659,000 after purchasing an additional 1,510,900 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new stake in shares of Floor & Decor Holdings in the 2nd quarter valued at approximately $32,590,000. 95.67% of the stock is currently owned by institutional investors.
About Floor & Decor Holdings
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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