Magnetar Financial LLC Buys Shares of 11,899 Floor & Decor Holdings, Inc. $FND

Key Points

• Magnetar Financial LLC acquired 11,899 shares of Floor & Decor Holdings, Inc. valued around $958,000 in the first quarter.
• Floor & Decor reported a 7.2% revenue increase year-over-year, totaling $1.21 billion, with an EPS of $0.58 that exceeded analysts' expectations.
• Analyst ratings for Floor & Decor show a consensus of Hold with a price target averaging $88.56, following several firms adjusting their price targets.

Magnetar Financial LLC bought a new stake in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,899 shares of the company's stock, valued at approximately $958,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in Floor & Decor by 89.5% during the 4th quarter. Hsbc Holdings PLC now owns 5,796 shares of the company's stock valued at $578,000 after buying an additional 2,738 shares during the last quarter. Northern Trust Corp lifted its position in shares of Floor & Decor by 20.7% in the fourth quarter. Northern Trust Corp now owns 944,933 shares of the company's stock valued at $94,210,000 after acquiring an additional 162,030 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Floor & Decor in the fourth quarter valued at $283,000. Freestone Grove Partners LP acquired a new stake in shares of Floor & Decor during the fourth quarter valued at $7,644,000. Finally, Bank of America Corp DE increased its position in Floor & Decor by 1.1% during the 4th quarter. Bank of America Corp DE now owns 448,521 shares of the company's stock worth $44,718,000 after purchasing an additional 4,795 shares in the last quarter.

Floor & Decor Trading Up 5.6%

Shares of FND stock traded up $4.39 during mid-day trading on Thursday, reaching $82.89. The company's stock had a trading volume of 1,631,238 shares, compared to its average volume of 2,087,010. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $8.93 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 3.51 and a beta of 1.68. The company's 50 day simple moving average is $80.93 and its 200-day simple moving average is $79.78. Floor & Decor Holdings, Inc. has a 12-month low of $66.01 and a 12-month high of $124.68.

Floor & Decor (NYSE:FND - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.58 EPS for the quarter, beating 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 the consensus estimate of $1.21 billion. During the same period last year, the business posted $0.52 EPS. The company's 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. On average, research analysts predict that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Floor & Decor from $85.00 to $80.00 and set an "in-line" rating on the stock in a report on Tuesday, June 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $92.00 price objective on shares of Floor & Decor in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Piper Sandler cut 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. Finally, Morgan Stanley reduced their price target on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $88.56.

Floor & Decor Company Profile

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.