Floor & Decor (NYSE:FND) Price Target Cut to $115.00 by Analysts at TD Cowen

Floor & Decor (NYSE:FND) had its target price cut by equities researchers at TD Cowen from $125.00 to $115.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 1.73% from the stock’s previous close.

A number of other analysts have also weighed in on FND. Truist Financial upped their target price on shares of Floor & Decor from $102.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Bank of America increased their price target 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. Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Floor & Decor in a report on Friday. Piper Sandler upped their price objective on shares of Floor & Decor from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company cut shares of Floor & Decor from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $85.00 to $105.00 in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.76.

Floor & Decor Stock Performance

Shares of NYSE FND traded up $0.28 during mid-day trading on Friday, hitting $113.04. The company had a trading volume of 2,307,068 shares, compared to its average volume of 1,400,615. The company has a current ratio of 1.14, a quick ratio of 0.18 and a debt-to-equity ratio of 0.10. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 5.30 and a beta of 1.86. The stock’s 50-day moving average price is $118.98 and its 200-day moving average price is $105.92.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Floor & Decor had a return on equity of 13.38% and a net margin of 5.57%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Floor & Decor will post 1.91 earnings per share for the current year.

Insider Activity at Floor & Decor

In related news, CAO David Victor Christopherson sold 6,850 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $118.70, for a total transaction of $813,095.00. Following the completion of 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 filing with the SEC, which is available at this hyperlink. In other Floor & Decor news, CAO David Victor Christopherson sold 6,850 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $118.70, for a total value of $813,095.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,271 shares in the company, valued at approximately $2,999,667.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Trevor Lang sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $123.28, for a total value of $1,602,640.00. Following the completion of the transaction, the president now owns 170,844 shares of the company’s stock, valued at $21,061,648.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,867 shares of company stock worth $11,016,089. 2.10% of the stock is owned by company insiders.

Institutional Trading of Floor & Decor

Several hedge funds have recently modified their holdings of FND. Riverview Trust Co purchased a new stake in shares of Floor & Decor during the 1st quarter worth approximately $26,000. DekaBank Deutsche Girozentrale purchased a new stake in Floor & Decor during the 3rd quarter valued at $30,000. Mendota Financial Group LLC purchased a new stake in Floor & Decor during the 4th quarter valued at $33,000. Rise Advisors LLC purchased a new stake in Floor & Decor during the 1st quarter valued at $39,000. Finally, Global Retirement Partners LLC raised its holdings in Floor & Decor by 97.1% during the 1st quarter. Global Retirement Partners LLC now owns 339 shares of the company’s stock valued at $44,000 after buying an additional 167 shares during the period.

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.