Bank of Nova Scotia Makes New Investment in Floor & Decor Holdings, Inc. (NYSE:FND)

Bank of Nova Scotia acquired a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 25,581 shares of the company's stock, valued at approximately $2,059,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Floor & Decor by 42.6% during the 1st 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. Signaturefd LLC grew its holdings in Floor & Decor by 18.5% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $141,000 after acquiring an additional 273 shares in the last quarter. CWM LLC increased its position in Floor & Decor by 67.6% during the 1st quarter. CWM LLC now owns 2,105 shares of the company's stock valued at $169,000 after purchasing an additional 849 shares during the period. J.Safra Asset Management Corp raised its holdings in shares of Floor & Decor by 71.9% in the 1st quarter. J.Safra Asset Management Corp now owns 2,144 shares of the company's stock valued at $173,000 after purchasing an additional 897 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in shares of Floor & Decor in the 4th quarter worth approximately $202,000.

Floor & Decor Stock Performance

NYSE:FND traded down $0.11 during trading hours on Friday, hitting $79.56. 1,714,509 shares of the company were exchanged, compared to its average volume of 2,065,250. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.28. Floor & Decor Holdings, Inc. has a 52-week low of $66.01 and a 52-week high of $124.68. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 3.41 and a beta of 1.68. The company's 50 day moving average price is $77.80 and its 200-day moving average price is $82.22.

Floor & Decor (NYSE:FND - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FND shares. Wells Fargo & Company cut their price objective on shares of Floor & Decor from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Piper Sandler cut 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. Guggenheim decreased their price objective 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. The Goldman Sachs Group dropped their price objective on Floor & Decor from $81.00 to $70.00 and set a "sell" rating on the stock in a research report on Friday, May 2nd. Finally, Evercore ISI cut their target price on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating on the stock in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.