Floor & Decor (NYSE:FND) Price Target Cut to $97.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley lowered its price target for Floor & Decor (NYSE:FND) from $105.00 to $97.00, maintaining an "equal weight" rating on the stock.
• Other analysts have also reduced their price targets, with Guggenheim setting it at $90.00 and Loop Capital at $75.00, reflecting a generally pessimistic outlook.
• Floor & Decor's stock has shown volatility, trading down 0.6% recently and has a current market cap of $8.20 billion.

Floor & Decor (NYSE:FND - Get Free Report) had its price objective reduced by analysts at Morgan Stanley from $105.00 to $97.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 17.43% from the stock's previous close.

Several other research firms also recently weighed in on FND. Wells Fargo & Company dropped their target price on shares of Floor & Decor from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Gordon Haskett downgraded shares of Floor & Decor from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho lowered their price objective on Floor & Decor from $100.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus lowered their target price on shares of Floor & Decor from $110.00 to $92.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Telsey Advisory Group reduced their price objective on Floor & Decor from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $88.56.

Floor & Decor Stock Performance

NYSE:FND traded up $1.16 during midday trading on Friday, reaching $82.60. The stock had a trading volume of 1,386,484 shares, compared to its average volume of 2,071,390. The stock has a market cap of $8.89 billion, a P/E ratio of 42.36, a P/E/G ratio of 2.45 and a beta of 1.68. The firm has a fifty day simple moving average of $77.31 and a two-hundred day simple moving average of $82.37. 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 has a 12-month low of $66.01 and a 12-month high of $124.68.

Floor & Decor (NYSE:FND - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, equities analysts expect that Floor & Decor will post 2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Huntington National Bank raised its position in shares of Floor & Decor by 120.5% during the 4th quarter. Huntington National Bank now owns 344 shares of the company's stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Floor & Decor by 42.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock valued at $41,000 after purchasing an additional 152 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Floor & Decor in the 1st quarter worth approximately $47,000. eCIO Inc. acquired a new stake in Floor & Decor in the first quarter worth $62,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Floor & Decor by 42.6% during the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock valued at $69,000 after acquiring an additional 255 shares during the period.

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.