Floor & Decor Holdings, Inc. (FND) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Floor & Decor Holdings, Inc. (NYSE:FND) from a buy rating to a hold rating in a research note published on Monday.

According to Zacks, “Floor & Decor Holdings, Inc. is a multi-channel specialty retailer of hard surface flooring and related accessories which offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring. Floor & Decor Holdings, Inc. is headquartered in Smyrna, Georgia. “

FND has been the topic of a number of other research reports. Telsey Advisory Group assumed coverage on shares of Floor & Decor Holdings in a research report on Tuesday, July 11th. They set a market perform rating and a $38.00 price target on the stock. Wedbush raised shares of Floor & Decor Holdings from a neutral rating to an outperform rating and set a $45.00 price target on the stock in a research report on Monday, July 24th. They noted that the move was a valuation call. Loop Capital assumed coverage on shares of Floor & Decor Holdings in a research report on Friday, August 18th. They set a hold rating and a $35.00 price target on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $28.00 price target (up previously from $25.00) on shares of Floor & Decor Holdings in a research report on Sunday, May 28th. Finally, Credit Suisse Group set a $43.00 price target on shares of Floor & Decor Holdings and gave the company a buy rating in a research report on Sunday, May 28th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $41.07.

Shares of Floor & Decor Holdings (FND) traded down 1.0384% during mid-day trading on Monday, reaching $38.1299. The company had a trading volume of 41,017 shares. Floor & Decor Holdings has a one year low of $29.37 and a one year high of $47.00. The firm has a market capitalization of $3.59 billion and a price-to-earnings ratio of 56.1560. The stock has a 50 day moving average of $35.79 and a 200-day moving average of $37.11.

Floor & Decor Holdings (NYSE:FND) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.20 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.20. The firm had revenue of $344.00 million for the quarter, compared to the consensus estimate of $343.73 million. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Equities analysts predict that Floor & Decor Holdings will post $0.60 EPS for the current year.

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In other news, CFO Trevor Lang sold 46,200 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total transaction of $1,778,700.00. Following the transaction, the chief financial officer now owns 192,519 shares in the company, valued at $7,411,981.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas V. Taylor sold 154,262 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total transaction of $5,939,087.00. Following the transaction, the chief executive officer now owns 158,781 shares in the company, valued at approximately $6,113,068.50. The disclosure for this sale can be found here. Insiders have sold 7,118,047 shares of company stock worth $274,044,810 in the last quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in shares of Floor & Decor Holdings during the second quarter valued at about $157,000. Public Employees Retirement System of Ohio acquired a new position in shares of Floor & Decor Holdings during the second quarter valued at about $179,000. Balyasny Asset Management LLC acquired a new position in shares of Floor & Decor Holdings during the second quarter valued at about $212,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Floor & Decor Holdings during the second quarter valued at about $216,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Floor & Decor Holdings during the second quarter valued at about $287,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Floor & Decor Holdings Company Profile

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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Analyst Recommendations for Floor & Decor Holdings (NYSE:FND)

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