Floor & Decor (FND) Receives Hold Rating from Piper Jaffray Companies

Piper Jaffray Companies reiterated their hold rating on shares of Floor & Decor (NYSE:FND) in a report published on Tuesday. They currently have a $50.00 price target on the stock.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Floor & Decor from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Tuesday, September 12th. Telsey Advisory Group raised shares of Floor & Decor from a market perform rating to an outperform rating and lifted their price objective for the stock from $39.00 to $47.00 in a research note on Friday, November 3rd. BMO Capital Markets lifted their price objective on shares of Floor & Decor from $41.00 to $45.00 and gave the stock a market perform rating in a research note on Monday, November 6th. Stifel Nicolaus initiated coverage on shares of Floor & Decor in a research note on Wednesday, December 13th. They issued a buy rating and a $51.00 price objective for the company. Finally, Credit Suisse Group lifted their price objective on shares of Floor & Decor from $43.00 to $47.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $45.13.

Shares of Floor & Decor (NYSE FND) traded up $1.17 during midday trading on Tuesday, reaching $48.14. 667,355 shares of the company’s stock were exchanged, compared to its average volume of 987,600. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33. The company has a market cap of $4,580.00 and a P/E ratio of 65.95. Floor & Decor has a one year low of $29.37 and a one year high of $49.86.

Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $343.90 million for the quarter, compared to the consensus estimate of $338.62 million. Floor & Decor had a net margin of 5.62% and a return on equity of 26.39%. During the same period in the previous year, the firm posted $0.12 EPS. Floor & Decor’s revenue for the quarter was up 26.8% compared to the same quarter last year. equities analysts anticipate that Floor & Decor will post 0.66 earnings per share for the current fiscal year.

In related news, CEO Thomas V. Taylor sold 155,392 shares of Floor & Decor stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $45.71, for a total transaction of $7,102,968.32. Following the completion of the transaction, the chief executive officer now directly owns 24,726 shares of the company’s stock, valued at approximately $1,130,225.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas V. Taylor sold 20,207 shares of Floor & Decor stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $45.07, for a total transaction of $910,729.49. Following the transaction, the chief executive officer now directly owns 24,726 shares of the company’s stock, valued at $1,114,400.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,647,246 shares of company stock valued at $201,948,218.

Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Floor & Decor by 108.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,477 shares of the company’s stock worth $369,000 after purchasing an additional 4,927 shares during the period. Bamco Inc. NY boosted its stake in shares of Floor & Decor by 515.5% during the 3rd quarter. Bamco Inc. NY now owns 704,022 shares of the company’s stock worth $27,408,000 after purchasing an additional 589,635 shares during the period. Magnetar Financial LLC purchased a new position in shares of Floor & Decor during the 3rd quarter worth about $7,668,000. Engineers Gate Manager LP purchased a new position in shares of Floor & Decor during the 3rd quarter worth about $1,564,000. Finally, California State Teachers Retirement System boosted its stake in shares of Floor & Decor by 93.7% during the 3rd quarter. California State Teachers Retirement System now owns 35,262 shares of the company’s stock worth $1,373,000 after purchasing an additional 17,062 shares during the period. 93.49% of the stock is owned by hedge funds and other institutional investors.

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About Floor & Decor

Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).

Analyst Recommendations for Floor & Decor (NYSE:FND)

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