Floor & Decor (NYSE:FND) Given a $50.00 Price Target at Wells Fargo

Floor & Decor (NYSE:FND) has been assigned a $50.00 target price by Wells Fargo in a report released on Thursday, May 3rd. The brokerage currently has a “hold” rating on the stock. Wells Fargo’s target price points to a potential upside of 7.92% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Wednesday, May 2nd. ValuEngine upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Telsey Advisory Group restated an “outperform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Floor & Decor in a report on Monday, April 30th. Wedbush upped their price objective on shares of Floor & Decor from $50.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, April 27th. Finally, Barclays upped their price objective on shares of Floor & Decor from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $50.41.

Floor & Decor opened at $46.33 on Thursday, MarketBeat.com reports. The company has a quick ratio of 0.18, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $4.37 billion and a P/E ratio of 67.14. Floor & Decor has a fifty-two week low of $45.01 and a fifty-two week high of $45.87.

Floor & Decor (NYSE:FND) last issued its earnings results on Thursday, May 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $402.90 million during the quarter, compared to analyst estimates of $400.37 million. Floor & Decor had a net margin of 8.34% and a return on equity of 20.20%. The business’s revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. analysts predict that Floor & Decor will post 1 earnings per share for the current year.

In other Floor & Decor news, EVP David Victor Christopherson sold 8,817 shares of the firm’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $57.30, for a total value of $505,214.10. Following the completion of the sale, the executive vice president now directly owns 12,845 shares of the company’s stock, valued at approximately $736,018.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian K. Robbins sold 107,667 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $45.20, for a total value of $4,866,548.40. Following the completion of the sale, the executive vice president now directly owns 56,968 shares of the company’s stock, valued at $2,574,953.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 592,484 shares of company stock valued at $31,862,763. Corporate insiders own 8.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FND. Bank of New York Mellon Corp grew its holdings in shares of Floor & Decor by 144.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 56,829 shares of the company’s stock worth $2,212,000 after purchasing an additional 33,594 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Floor & Decor by 974.9% during the 3rd quarter. Wells Fargo & Company MN now owns 13,662 shares of the company’s stock worth $532,000 after purchasing an additional 12,391 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Floor & Decor by 187.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 74,253 shares of the company’s stock worth $2,891,000 after purchasing an additional 48,382 shares during the period. California State Teachers Retirement System grew its holdings 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. Finally, Public Employees Retirement System of Ohio grew its holdings 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. 95.70% of the stock is owned by institutional investors and hedge funds.

About Floor & Decor

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, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

Analyst Recommendations for Floor & Decor (NYSE:FND)

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