Royal Bank of Canada Acquires 316,419 Shares of Floor & Decor Holdings, Inc. $FND

Key Points

• The Royal Bank of Canada increased its stake in Floor & Decor Holdings, Inc. by 180.3%, owning approximately 491,883 shares valued at $39.6 million as of the latest SEC filing.
• Analysts have issued varied price targets for Floor & Decor, with ratings ranging from "Buy" to "Sell", and a consensus average price target of $88.56.
• For the most recent quarter, Floor & Decor reported earnings of $0.58 per share, exceeding estimates, along with a revenue of $1.21 billion, marking a 7.2% year-over-year increase.

Royal Bank of Canada increased its position in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 180.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 491,883 shares of the company's stock after purchasing an additional 316,419 shares during the quarter. Royal Bank of Canada owned 0.46% of Floor & Decor worth $39,581,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Floor & Decor by 42.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock valued at $41,000 after buying an additional 152 shares during the last quarter. Commerce Bank lifted its holdings in 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 buying an additional 168 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in 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 buying an additional 171 shares during the period. Xponance Inc. boosted its position in Floor & Decor by 1.2% during 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 during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Floor & Decor by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the company's stock worth $2,414,000 after acquiring an additional 200 shares during the period.

Floor & Decor Stock Up 6.3%

FND stock traded up $5.35 during mid-day trading on Thursday, reaching $90.40. 2,313,476 shares of the company traded hands, compared to its average volume of 2,166,568. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 0.08. The firm's 50 day moving average price is $81.86 and its 200 day moving average price is $79.39. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 3.65 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.

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, topping the consensus estimate of $0.57 by $0.01. The business 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%.Floor & Decor's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. As a group, equities research analysts predict that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FND has been the topic of several research analyst reports. Guggenheim cut 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. Wall Street Zen cut shares of Floor & Decor from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Piper Sandler dropped their price objective on shares of Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley reduced their target price on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $92.00 target price on shares of Floor & Decor in a research report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $88.56.

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.