Floor & Decor (NYSE:FND) had its price target increased by equities researchers at Wedbush from $60.00 to $65.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target would suggest a potential upside of 13.10% from the company's previous close.
FND has been the topic of several other research reports. Telsey Advisory Group raised their target price on Floor & Decor from $35.00 to $47.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. Robert W. Baird increased their price target on Floor & Decor from $40.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Credit Suisse Group cut their price target on Floor & Decor from $61.00 to $46.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Loop Capital cut their price target on Floor & Decor from $56.00 to $40.00 in a report on Monday, April 27th. Finally, Guggenheim increased their price target on Floor & Decor from $60.00 to $65.00 in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Floor & Decor currently has a consensus rating of "Buy" and a consensus target price of $52.45.
Shares of NYSE FND traded down $0.74 during midday trading on Wednesday, hitting $57.47. The stock had a trading volume of 183,786 shares, compared to its average volume of 1,586,028. The company has a market capitalization of $5.85 billion, a PE ratio of 38.81, a P/E/G ratio of 3.26 and a beta of 2.08. The stock has a 50 day simple moving average of $50.25 and a 200-day simple moving average of $46.32. Floor & Decor has a 1 year low of $24.36 and a 1 year high of $62.62. The company has a quick ratio of 0.71, a current ratio of 1.88 and a debt-to-equity ratio of 1.61.
Floor & Decor (NYSE:FND) last released its earnings results on Thursday, April 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The business had revenue of $554.94 million for the quarter, compared to the consensus estimate of $537.33 million. Floor & Decor had a return on equity of 17.08% and a net margin of 7.39%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. As a group, analysts expect that Floor & Decor will post 0.8 earnings per share for the current fiscal year.
In related news, Director Corporate Opportunities F. Ares sold 3,376,928 shares of Floor & Decor stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $42.20, for a total value of $142,506,361.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Lisa Laube sold 1,238 shares of Floor & Decor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $54.00, for a total value of $66,852.00. Following the completion of the transaction, the president now owns 125,535 shares of the company's stock, valued at $6,778,890. The disclosure for this sale can be found here. Insiders sold 6,940,579 shares of company stock valued at $302,455,528 over the last ninety days. Insiders own 5.20% of the company's stock.
Large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY increased its position in Floor & Decor by 18.3% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 4,395 shares of the company's stock valued at $181,000 after acquiring an additional 680 shares during the period. First Trust Advisors LP acquired a new position in Floor & Decor during the 1st quarter worth approximately $2,060,000. Victory Capital Management Inc. increased its position in Floor & Decor by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,146 shares of the company's stock worth $698,000 after purchasing an additional 878 shares during the period. Rhumbline Advisers increased its position in Floor & Decor by 1.9% during the 4th quarter. Rhumbline Advisers now owns 67,329 shares of the company's stock worth $3,421,000 after purchasing an additional 1,229 shares during the period. Finally, State Street Corp increased its position in Floor & Decor by 9.6% during the 4th quarter. State Street Corp now owns 1,344,659 shares of the company's stock worth $68,322,000 after purchasing an additional 118,172 shares during the period.
Floor & Decor Company Profile
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.
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