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

A number of other large investors also recently added to or reduced their stakes in FND. Northwestern Mutual Wealth Management Co. grew its position in shares of Floor & Decor by 42.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock worth $41,000 after buying an additional 152 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Floor & Decor in the first quarter worth approximately $47,000. First Horizon Advisors Inc. lifted its position in Floor & Decor by 42.6% during the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock worth $69,000 after buying an additional 255 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Floor & Decor by 24.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,539 shares of the company's stock worth $124,000 after buying an additional 298 shares in the last quarter. Finally, Signaturefd LLC raised its position in Floor & Decor by 18.5% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $141,000 after purchasing an additional 273 shares during the period.

Analyst Ratings Changes

FND has been the subject of several analyst reports. Guggenheim lowered their target price on Floor & Decor from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Piper Sandler lowered their price target on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Evercore ISI lowered their price target on 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 restated an "outperform" rating and issued a $92.00 price target on shares of Floor & Decor in a report on Tuesday, August 12th. Finally, Wall Street Zen cut Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Floor & Decor currently has a consensus rating of "Hold" and a consensus price target of $88.56.

Floor & Decor Stock Up 4.5%

NYSE:FND traded up $3.75 during mid-day trading on Friday, hitting $86.50. The company had a trading volume of 1,749,035 shares, compared to its average volume of 2,090,404. The business has a fifty day simple moving average of $81.07 and a 200-day simple moving average of $79.68. The company has a current ratio of 1.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.08. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $124.68. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 3.37 and a beta of 1.68.

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

Floor & Decor 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.