Floor & Decor (NYSE:FND) Price Target Lowered to $78.00 at Piper Sandler

Key Points

• The stock price target for Floor & Decor has been lowered from $80.00 to $78.00 by Piper Sandler, which maintains a "neutral" rating on the stock.
• Several other brokerages have also decreased their price targets for Floor & Decor, with ratings ranging from "sell" to "buy," resulting in an average rating of "Hold" and a consensus price target of $89.20.
• Floor & Decor's stock recently opened at $76.65 and has seen a year-over-year revenue increase of 7.2%, reporting earnings of $0.58 per share that surpassed estimates.

Floor & Decor (NYSE:FND - Get Free Report) had its target price reduced by stock analysts at Piper Sandler from $80.00 to $78.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential upside of 1.76% from the company's current price.

Several other brokerages also recently commented on FND. Guggenheim reduced their price target on shares of Floor & Decor from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their target price on shares of Floor & Decor from $81.00 to $70.00 and set a "sell" rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus dropped their price target on shares of Floor & Decor from $110.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Mizuho dropped their price target on shares of Floor & Decor from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Barclays dropped their price target on shares of Floor & Decor from $91.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $89.20.

Floor & Decor Stock Down 2.2%

Shares of NYSE:FND opened at $76.65 on Friday. 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 market cap of $8.25 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.70. Floor & Decor has a 52 week low of $66.01 and a 52 week high of $124.68. The firm has a 50 day simple moving average of $77.05 and a 200 day simple moving average of $82.83.

Floor & Decor (NYSE:FND - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $1.21 billion. Floor & Decor had a net margin of 4.53% and a return on equity of 9.32%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, research analysts expect that Floor & Decor will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank grew 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 last quarter. Northwestern Mutual Wealth Management Co. grew its stake in 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. Zions Bancorporation National Association UT acquired a new position in Floor & Decor in the 1st quarter valued at $47,000. eCIO Inc. acquired a new position in Floor & Decor in the 1st quarter valued at $62,000. Finally, First Horizon Advisors Inc. grew its stake in Floor & Decor by 42.6% in the 1st quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock valued at $69,000 after buying an additional 255 shares during the last quarter.

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.

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