Floor & Decor Target of Unusually Large Options Trading (NYSE:FND)

Key Points

• Floor & Decor Holdings, Inc. experienced a significant spike in options trading, with investors purchasing 11,070 put options, marking a 271% increase from the average volume.
• FND stock traded down to $78.64, with a notable decline in trading volume at 129,348 shares, compared to an average of over 2 million shares.
• Analysts have downgraded FND's price target, with Wells Fargo reducing it from $80 to $75, contributing to a mixed consensus rating of "Hold" for the stock.

Floor & Decor Holdings, Inc. (NYSE:FND - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders bought 11,070 put options on the company. Thisisanincreaseofapproximately271% compared to the typical volume of 2,982 put options.

Floor & Decor Stock Performance

Shares of NYSE FND traded up $5.22 during midday trading on Tuesday, reaching $83.51. 1,669,134 shares of the stock were exchanged, compared to its average volume of 2,062,209. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 3.41 and a beta of 1.68. Floor & Decor has a twelve month low of $66.01 and a twelve month high of $124.68. The firm has a 50-day simple moving average of $78.13 and a two-hundred day simple moving average of $81.61. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 0.08.

Floor & Decor (NYSE:FND - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the company earned $0.52 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that Floor & Decor will post 2 EPS for the current fiscal year.

Institutional Trading of Floor & Decor

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 152 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Floor & Decor during the first quarter worth approximately $47,000. eCIO Inc. purchased a new stake in shares of Floor & Decor during the first quarter worth approximately $62,000. First Horizon Advisors Inc. grew its holdings in Floor & Decor by 42.6% during the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock worth $69,000 after acquiring an additional 255 shares during the period. Finally, WD Rutherford LLC acquired a new position in Floor & Decor during the second quarter worth $73,000.

Analyst Ratings Changes

FND has been the topic of several research reports. Wall Street Zen cut shares of Floor & Decor from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Stifel Nicolaus dropped their price objective on shares of Floor & Decor from $110.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Loop Capital decreased 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. Barclays cut their target price 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. Finally, Mizuho dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Floor & Decor currently has a consensus rating of "Hold" and a consensus price target of $88.56.

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.