Baird Financial Group Inc. Boosts Stake in Floor & Decor Holdings, Inc. $FND

Key Points

• Baird Financial Group Inc. raised its position in Floor & Decor Holdings, Inc. by 4.6% in the first quarter, owning approximately 356,729 shares valued at about $28.7 million according to SEC filings.
• Despite a recent earnings report showing a 7.2% year-over-year revenue increase to $1.21 billion and beating earnings per share expectations, Floor & Decor's stock is down 2.1%.
• Industry analysts have issued mixed ratings on Floor & Decor, with target prices ranging from $75.00 to $100.00 and an overall average rating of "Hold."

Baird Financial Group Inc. grew its holdings in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,729 shares of the company's stock after acquiring an additional 15,527 shares during the period. Baird Financial Group Inc. owned about 0.33% of Floor & Decor worth $28,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FND. Price T Rowe Associates Inc. MD lifted its position in shares of Floor & Decor by 32.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,837,665 shares of the company's stock worth $550,228,000 after buying an additional 1,686,085 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Floor & Decor by 106.4% in the first quarter. Principal Financial Group Inc. now owns 3,023,172 shares of the company's stock worth $243,275,000 after buying an additional 1,558,409 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Floor & Decor by 12,208.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,327,267 shares of the company's stock worth $132,329,000 after buying an additional 1,316,484 shares in the last quarter. Timucuan Asset Management Inc. FL lifted its position in shares of Floor & Decor by 32.1% in the first quarter. Timucuan Asset Management Inc. FL now owns 2,366,458 shares of the company's stock worth $190,429,000 after buying an additional 575,520 shares in the last quarter. Finally, Van Berkom & Associates Inc. purchased a new stake in shares of Floor & Decor in the first quarter worth about $39,861,000.

Floor & Decor Trading Up 5.7%

Shares of NYSE FND traded up $4.72 during trading hours on Friday, reaching $87.47. The stock had a trading volume of 3,593,538 shares, compared to its average volume of 2,177,441. 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 cap of $9.42 billion, a price-to-earnings ratio of 44.85, a P/E/G ratio of 3.55 and a beta of 1.68. The business's fifty day moving average price is $81.31 and its two-hundred day moving average price is $79.60. Floor & Decor Holdings, Inc. has a 52-week low of $66.01 and a 52-week high of $124.68.

Floor & Decor (NYSE:FND - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The firm had revenue of $1.21 billion during 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%.Floor & Decor's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Analysts expect that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FND. Telsey Advisory Group reiterated an "outperform" rating and issued a $92.00 target price on shares of Floor & Decor in a research report on Tuesday, August 12th. Morgan Stanley decreased their target price on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Wall Street Zen downgraded Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Guggenheim decreased their target price 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. Finally, Piper Sandler reduced their price objective on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $88.56.

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.