Piper Sandler Has Lowered Expectations for Floor & Decor (NYSE:FND) Stock Price

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 cut by analysts at Piper Sandler from $80.00 to $78.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price would indicate a potential downside of 5.79% from the company's current price.

Several other research firms have also recently issued reports on FND. 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 research report on Tuesday, June 24th. Barclays dropped their price target on shares of Floor & Decor from $91.00 to $78.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Telsey Advisory Group dropped their price target on shares of Floor & Decor from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Loop Capital dropped their price target on shares of Floor & Decor from $95.00 to $75.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of 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 analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $88.56.

Floor & Decor Stock Performance

Shares of FND traded up $1.35 during trading hours on Friday, hitting $82.79. The stock had a trading volume of 941,729 shares, compared to its average volume of 2,069,617. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.28 and a current ratio of 1.25. The firm has a 50-day moving average price of $77.31 and a 200 day moving average price of $82.37. Floor & Decor has a fifty-two week low of $66.01 and a fifty-two week high of $124.68. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 2.45 and a beta of 1.68.

Floor & Decor (NYSE:FND - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.58 earnings per share (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 the consensus estimate of $1.21 billion. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The company's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Floor & Decor will post 2 EPS for the current year.

Institutional Trading of Floor & Decor

Several institutional investors and hedge funds have recently bought and sold shares of FND. Capital Research Global Investors raised its position in Floor & Decor by 76.8% in the 4th quarter. Capital Research Global Investors now owns 13,316,446 shares of the company's stock valued at $1,327,653,000 after purchasing an additional 5,784,573 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Floor & Decor by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,837,665 shares of the company's stock valued at $550,228,000 after purchasing an additional 1,686,085 shares during the last quarter. Principal Financial Group Inc. raised its position in Floor & Decor by 106.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,023,172 shares of the company's stock valued at $243,275,000 after purchasing an additional 1,558,409 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Floor & Decor by 12,208.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,327,267 shares of the company's stock valued at $132,329,000 after purchasing an additional 1,316,484 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Floor & Decor during the 4th quarter worth $109,574,000.

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.