Blueshift Asset Management LLC Makes New 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 acquired a new position in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,224 shares of the company's stock, valued at approximately $2,593,000. Floor & Decor makes up approximately 1.0% of Blueshift Asset Management LLC's holdings, making the stock its 9th largest position.

Several other hedge funds have also recently modified their holdings of FND. Huntington National Bank increased its stake in Floor & Decor by 120.5% in the 4th quarter. Huntington National Bank now owns 344 shares of the company's stock valued at $34,000 after buying an additional 188 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Floor & Decor by 42.6% in the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock valued at $69,000 after purchasing an additional 255 shares in the last quarter. Signaturefd LLC lifted its stake 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 buying an additional 273 shares during the period. Forum Financial Management LP bought a new position in shares of Floor & Decor during the fourth quarter worth about $202,000. Finally, CWM LLC boosted its stake in shares of Floor & Decor by 67.6% during the 1st quarter. CWM LLC now owns 2,105 shares of the company's stock worth $169,000 after acquiring an additional 849 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Mizuho dropped their price objective on Floor & Decor from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Loop Capital lowered their price target on Floor & Decor from $95.00 to $75.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Evercore ISI cut their price objective on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a research report on Tuesday, June 24th. The Goldman Sachs Group cut their price objective on Floor & Decor from $81.00 to $70.00 and set a "sell" rating for the company in a research report on Friday, May 2nd. Finally, Wells Fargo & Company cut their price objective on Floor & Decor from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $88.56.

Floor & Decor Price Performance

Shares of FND traded up $1.68 during mid-day trading on Friday, hitting $78.32. 3,636,566 shares of the company were exchanged, compared to its average volume of 1,755,012. Floor & Decor Holdings, Inc. has a 1-year low of $66.01 and a 1-year high of $124.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.27 and a current ratio of 1.22. The company has a 50 day moving average of $77.15 and a 200-day moving average of $82.60. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.68.

Floor & Decor (NYSE:FND - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. Floor & Decor had a net margin of 4.59% and a return on equity of 9.49%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. Analysts expect that Floor & Decor Holdings, Inc. will post 2 EPS 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.