Zacks Investment Research cut shares of Floor & Decor Holdings, Inc. (NYSE:FND) from a buy rating to a hold rating in a research report released on Wednesday, November 1st.
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. “
A number of other analysts have also issued reports on the stock. J P Morgan Chase & Co assumed coverage on shares of Floor & Decor Holdings in a research note on Monday, October 16th. They issued an overweight rating and a $46.00 price target for the company. Piper Jaffray Companies restated a hold rating and issued a $42.00 price target on shares of Floor & Decor Holdings in a research note on Thursday, October 12th. BMO Capital Markets assumed coverage on shares of Floor & Decor Holdings in a research note on Thursday, September 14th. They issued a market perform rating and a $41.00 price target for the company. Bank of America Corporation reiterated a buy rating and set a $42.00 target price on shares of Floor & Decor Holdings in a research note on Tuesday, September 5th. Finally, Loop Capital assumed 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $42.93.
Floor & Decor Holdings (NYSE:FND) traded up $0.69 on Wednesday, hitting $39.14. 632,754 shares of the stock were exchanged, compared to its average volume of 551,208. Floor & Decor Holdings has a 12 month low of $29.37 and a 12 month high of $46.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33.
Floor & Decor Holdings (NYSE:FND) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $343.90 million during the quarter, compared to analyst estimates 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 was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. equities research analysts predict that Floor & Decor Holdings will post 0.66 EPS for the current fiscal year.
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In related news, EVP Brian K. Robbins sold 9,600 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $41.20, for a total value of $395,520.00. Following the completion of the sale, the executive vice president now owns 13,160 shares of the company’s stock, valued at $542,192. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Vincent West sold 50,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $37.90, for a total transaction of $1,895,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,781 shares of company stock valued at $7,341,477.
A number of hedge funds have recently bought and sold shares of the stock. Ares Management LLC acquired a new stake in Floor & Decor Holdings in the second quarter worth about $2,049,069,000. FS Capital Partners VI LLC acquired a new stake in Floor & Decor Holdings in the second quarter worth about $993,798,000. Gilder Gagnon Howe & Co. LLC lifted its holdings in Floor & Decor Holdings by 30.8% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,644,866 shares of the company’s stock worth $102,965,000 after purchasing an additional 622,703 shares during the period. TimesSquare Capital Management LLC lifted its holdings in Floor & Decor Holdings by 1,007.3% in the third quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock worth $64,659,000 after purchasing an additional 1,510,900 shares during the period. Finally, Vanguard Group Inc. acquired a new stake in Floor & Decor Holdings in the second quarter worth about $32,590,000. 95.67% of the stock is owned by institutional investors and hedge funds.
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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