Blueshift Asset Management LLC Makes New $2.59 Million Investment in Floor & Decor Holdings, Inc. (NYSE:FND)

Key Points

• Blueshift Asset Management LLC has invested approximately $2.59 million in Floor & Decor, acquiring 32,224 shares, which makes it the firm's 9th largest position.
• Other notable hedge funds, such as Capital Research Global Investors and D. E. Shaw & Co. Inc., have significantly increased their stakes in Floor & Decor, showcasing strong institutional interest.
• Floor & Decor's stock currently has a consensus rating of "Hold," with analysts providing a mixed outlook in recent reports, including price target adjustments between $70.00 and $100.00.

Blueshift Asset Management LLC bought a new stake in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 32,224 shares of the company's stock, valued at approximately $2,593,000. Floor & Decor accounts for about 1.0% of Blueshift Asset Management LLC's holdings, making the stock its 9th biggest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FND. Advisory Research Inc. raised its holdings in Floor & Decor by 0.7% during the 4th quarter. Advisory Research Inc. now owns 17,271 shares of the company's stock worth $1,722,000 after purchasing an additional 115 shares during the last quarter. Commerce Bank lifted its holdings in shares of Floor & Decor by 3.7% in the first quarter. Commerce Bank now owns 4,712 shares of the company's stock valued at $379,000 after purchasing an additional 168 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Floor & Decor by 2.4% in the first quarter. Crossmark Global Holdings Inc. now owns 7,428 shares of the company's stock valued at $598,000 after acquiring an additional 171 shares in the last quarter. Huntington National Bank grew its holdings in shares of Floor & Decor by 120.5% in the fourth quarter. Huntington National Bank now owns 344 shares of the company's stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Floor & Decor by 1.2% in the first quarter. Xponance Inc. now owns 16,018 shares of the company's stock valued at $1,289,000 after acquiring an additional 190 shares in the last quarter.

Analyst Ratings Changes

FND has been the topic of a number of research reports. Wells Fargo & Company lowered their price target 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. Evercore ISI cut their price objective on shares of Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a report on Tuesday, June 24th. Morgan Stanley cut their price objective on shares of Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating for the company in a report on Friday. Guggenheim decreased their target price on shares of Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Friday. Finally, Piper Sandler decreased their target price on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $88.56.

Floor & Decor Price Performance

FND traded up $0.78 during trading on Tuesday, hitting $82.22. 700,218 shares of the company traded hands, compared to its average volume of 2,068,831. The company has a market cap of $8.85 billion, a PE ratio of 42.16, a P/E/G ratio of 2.45 and a beta of 1.68. The stock's 50-day simple moving average is $77.31 and its two-hundred day simple moving average is $82.37. Floor & Decor Holdings, Inc. has a 1 year low of $66.01 and a 1 year high of $124.68. 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 (NYSE:FND - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.58 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 the consensus estimate of $1.21 billion. Floor & Decor had a return on equity of 9.36% and a net margin of 4.59%. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts anticipate that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

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.