Floor & Decor Sees Unusually High Options Volume (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) saw some unusual options trading activity on Friday. Stock traders purchased 11,070 put options on the company. Thisrepresentsanincreaseof271% compared to the typical daily volume of 2,982 put options.

Floor & Decor Trading Down 0.1%

Shares of NYSE FND traded down $0.11 during midday trading on Friday, hitting $79.56. The stock had a trading volume of 1,714,509 shares, compared to its average volume of 1,854,846. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 3.41 and a beta of 1.68. Floor & Decor has a 1-year low of $66.01 and a 1-year high of $124.68. 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 company has a fifty day moving average price of $77.96 and a 200 day moving average price of $81.93.

Floor & Decor (NYSE:FND - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates 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 for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. On average, analysts predict that Floor & Decor will post 2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Floor & Decor from $110.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird decreased their price target on Floor & Decor from $125.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Guggenheim decreased their price target on Floor & Decor from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Morgan Stanley decreased their price target on Floor & Decor from $105.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Piper Sandler decreased their price target on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $88.56.

Hedge Funds Weigh In On Floor & Decor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Floor & Decor by 42.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock worth $41,000 after acquiring an additional 152 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Floor & Decor during the 1st quarter worth approximately $47,000. eCIO Inc. acquired a new position in Floor & Decor during the 1st quarter worth approximately $62,000. First Horizon Advisors Inc. lifted its position in Floor & Decor by 42.6% during the 1st quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock worth $69,000 after acquiring an additional 255 shares in the last quarter. Finally, WD Rutherford LLC acquired a new position in Floor & Decor during the 2nd quarter worth approximately $73,000.

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.