Citigroup Lowers Floor & Decor (NYSE:FND) Price Target to $75.00

Key Points

• Citigroup has lowered the price target for Floor & Decor from $81.00 to $75.00, maintaining a "neutral" rating; this indicates a potential upside of 7.48% from its previous close.
• Other analysts have also adjusted their ratings on Floor & Decor, with Guggenheim setting a new price target of $90.00 and Evercore ISI at $80.00; the consensus rating for the stock is "Hold" with an average target price of $87.53.
• Floor & Decor's stock is currently trading around $69.78, reflecting a decrease of 1.0%; the company reported earnings of $0.58 per share, beating estimates slightly.

Floor & Decor (NYSE:FND - Get Free Report) had its price objective decreased by stock analysts at Citigroup from $81.00 to $75.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 7.48% from the company's previous close.

Several other research firms have also commented on FND. Guggenheim cut their price objective on Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Evercore ISI reduced their price target on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a report on Tuesday. Piper Sandler reduced their price target on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Wall Street Zen downgraded Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Morgan Stanley reduced their price target on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $87.53.

Floor & Decor Trading Down 1.0%

Shares of Floor & Decor stock traded down $0.72 during trading hours on Thursday, reaching $69.78. 847,386 shares of the company's stock were exchanged, compared to its average volume of 2,095,264. The company has a current ratio of 1.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 3.02 and a beta of 1.70. The company has a fifty day moving average of $81.34 and a 200-day moving average of $77.99. Floor & Decor has a 52-week low of $66.01 and a 52-week high of $122.90.

Floor & Decor (NYSE:FND - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Floor & Decor had a return on equity of 9.36% and a net margin of 4.59%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $0.52 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Sell-side analysts forecast that Floor & Decor will post 2 EPS for the current fiscal year.

Hedge Funds Weigh In On Floor & Decor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Floor & Decor by 42.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock valued at $41,000 after acquiring an additional 152 shares during the period. Zions Bancorporation National Association UT acquired a new position in Floor & Decor in the first quarter valued at approximately $47,000. State of Wyoming acquired a new position in Floor & Decor in the second quarter valued at approximately $46,000. Steph & Co. acquired a new position in Floor & Decor in the third quarter valued at approximately $48,000. Finally, eCIO Inc. acquired a new position in Floor & Decor in the first quarter valued at approximately $62,000.

About Floor & Decor

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.

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