Floor & Decor (NYSE:FND) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Floor & Decor to “Strong Sell” from “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $56.50.
• Floor & Decor shares opened at $47.48, near the lower end of their 52-week range of $42.64 to $77.46. The stock’s 200-day moving average was $55.15.
• The company slightly exceeded quarterly expectations, reporting $0.58 in earnings per share and $1.25 billion in revenue, but insider Thomas V. Taylor sold 218,189 shares, reducing his position by 48.7%.

Floor & Decor (NYSE:FND - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday, Zacks reports.

FND has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on shares of Floor & Decor from $56.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. TD Cowen reissued a "hold" rating on shares of Floor & Decor in a research note on Monday, August 3rd. Wells Fargo & Company decreased their target price on shares of Floor & Decor from $55.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Monday, October 19th. Wolfe Research reaffirmed an "underperform" rating and issued a $41.00 target price on shares of Floor & Decor in a research note on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Floor & Decor from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 9th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Floor & Decor presently has an average rating of "Hold" and a consensus target price of $56.50.

Floor & Decor Price Performance

Shares of NYSE:FND opened at $47.48 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.33. The business's fifty day moving average price is $48.08 and its two-hundred day moving average price is $55.15. The stock has a market cap of $5.06 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 3.88 and a beta of 1.60. Floor & Decor has a one year low of $42.64 and a one year high of $77.46.

Floor & Decor (NYSE:FND - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. Floor & Decor had a return on equity of 8.20% and a net margin of 4.93%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, analysts forecast that Floor & Decor will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Thomas V. Taylor sold 218,189 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $62.30, for a total transaction of $13,593,174.70. Following the completion of the sale, the insider directly owned 229,820 shares of the company's stock, valued at approximately $14,317,786. This represents a 48.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Floor & Decor by 6.5% in the 1st 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 last quarter. Turtle Creek Asset Management Inc. grew its stake in shares of Floor & Decor by 41.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 2,757,643 shares of the company's stock valued at $140,088,000 after acquiring an additional 811,910 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 acquiring an additional 659,355 shares in the last quarter. Worldly Partners Management LLC grew its stake in shares of Floor & Decor by 3.2% during the second quarter. Worldly Partners Management LLC now owns 1,371,180 shares of the company's stock valued at $81,393,000 after acquiring an additional 42,000 shares in the last quarter. Finally, Madison Asset Management LLC purchased a new stake in shares of Floor & Decor during the second quarter worth about $78,941,000.

About Floor & Decor

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.

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