Piper Sandler Raises Floor & Decor (NYSE:FND) Price Target to $115.00

Floor & Decor (NYSE:FND) had its target price lifted by equities research analysts at Piper Sandler from $105.00 to $115.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 5.81% from the company’s previous close.

A number of other brokerages have also recently commented on FND. Barclays raised their target price on Floor & Decor from $66.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, January 4th. Bank of America increased their target price on shares of Floor & Decor from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Wells Fargo & Company lowered shares of Floor & Decor from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $85.00 to $105.00 in a research report on Thursday, January 4th. Telsey Advisory Group lifted their target price on shares of Floor & Decor from $95.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus dropped their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, February 26th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.95.

Floor & Decor Stock Up 0.4 %

NYSE FND traded up $0.49 during mid-day trading on Tuesday, reaching $122.10. The stock had a trading volume of 89,903 shares, compared to its average volume of 1,404,388. The stock has a market cap of $13.04 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 5.74 and a beta of 1.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.14 and a quick ratio of 0.18. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67. The company has a fifty day moving average price of $117.60 and a 200 day moving average price of $103.24.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Floor & Decor had a return on equity of 13.38% and a net margin of 5.57%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, research analysts expect that Floor & Decor will post 1.92 earnings per share for the current year.

Insider Activity

In related news, CAO David Victor Christopherson sold 6,850 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $118.70, for a total transaction of $813,095.00. Following the transaction, the chief accounting officer now directly owns 25,271 shares in the company, valued at approximately $2,999,667.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Steven Alan Denny sold 5,152 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $123.52, for a total transaction of $636,375.04. Following the transaction, the executive vice president now owns 13,271 shares of the company’s stock, valued at approximately $1,639,233.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David Victor Christopherson sold 6,850 shares of Floor & Decor stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $118.70, for a total value of $813,095.00. Following the completion of the sale, the chief accounting officer now owns 25,271 shares of the company’s stock, valued at $2,999,667.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,867 shares of company stock valued at $11,016,089. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FND. Polen Capital Management LLC lifted its position in shares of Floor & Decor by 59,133.5% in the 4th quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock worth $27,861,000 after purchasing an additional 25,141,795 shares during the period. Capital World Investors lifted its holdings in Floor & Decor by 5.6% during the fourth quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock worth $1,328,518,000 after buying an additional 627,256 shares during the period. Vanguard Group Inc. boosted its position in Floor & Decor by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,658,747 shares of the company’s stock valued at $1,077,530,000 after acquiring an additional 300,506 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Floor & Decor by 21.4% in the 1st quarter. BlackRock Inc. now owns 7,948,493 shares of the company’s stock valued at $780,701,000 after acquiring an additional 1,401,173 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Floor & Decor by 4.8% in the 4th quarter. Capital Research Global Investors now owns 6,537,191 shares of the company’s stock worth $729,327,000 after acquiring an additional 298,386 shares in the last quarter.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.