Ontario Teachers Pension Plan Board Increases Stake in Floor & Decor Holdings, Inc. (NYSE:FND)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Floor & Decor Holdings, Inc. by 105.9% during the first quarter, now owning 7,249 shares valued at approximately $583,000.
• Floor & Decor reported a 7.2% increase in revenue year-over-year, with earnings per share of $0.58, beating consensus estimates.
• Wall Street analysts have revised their price targets for Floor & Decor, with a consensus price target of $88.56 and a majority rating of "Hold".

Ontario Teachers Pension Plan Board raised its position in Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 105.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,249 shares of the company's stock after purchasing an additional 3,728 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Floor & Decor were worth $583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Floor & Decor by 76.8% in the fourth quarter. Capital Research Global Investors now owns 13,316,446 shares of the company's stock valued at $1,327,653,000 after buying an additional 5,784,573 shares during the last quarter. Principal Financial Group Inc. raised its holdings 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 valued at $243,275,000 after buying an additional 1,558,409 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings 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 valued at $132,329,000 after buying an additional 1,316,484 shares during the last quarter. Marshall Wace LLP purchased a new position in Floor & Decor during the fourth quarter worth about $109,574,000. Finally, Van Berkom & Associates Inc. purchased a new position in Floor & Decor during the first quarter worth about $39,861,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on FND. The Goldman Sachs Group dropped their target price on shares of Floor & Decor from $81.00 to $70.00 and set a "sell" rating for the company in a report on Friday, May 2nd. Robert W. Baird dropped their price target on shares of Floor & Decor from $125.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Loop Capital decreased their price objective on shares of Floor & Decor from $95.00 to $75.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Evercore ISI decreased their price target 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. Finally, Piper Sandler reduced their price target on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $88.56.

Floor & Decor Price Performance

NYSE FND traded down $3.42 during trading on Thursday, hitting $82.50. 1,940,919 shares of the company's stock were exchanged, compared to its average volume of 2,077,646. 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 company has a market cap of $8.88 billion, a PE ratio of 42.31, a P/E/G ratio of 3.59 and a beta of 1.68. Floor & Decor Holdings, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $124.68. The stock's 50 day moving average price is $78.59 and its two-hundred day moving average price is $81.65.

Floor & Decor (NYSE:FND - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Research analysts expect that Floor & Decor Holdings, Inc. will post 2 EPS for the current 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.