Traders Buy Floor & Decor (FND) on Weakness
Traders purchased shares of Floor & Decor Holdings Inc (NYSE:FND) on weakness during trading hours on Thursday. $51.34 million flowed into the stock on the tick-up and $30.22 million flowed out of the stock on the tick-down, for a money net flow of $21.12 million into the stock. Of all equities tracked, Floor & Decor had the 19th highest net in-flow for the day. Floor & Decor traded down ($0.83) for the day and closed at $36.60
Several research firms have recently weighed in on FND. ValuEngine upgraded Floor & Decor from a “hold” rating to a “buy” rating in a report on Monday, June 11th. William Blair began coverage on Floor & Decor in a report on Wednesday, June 6th. They set an “outperform” rating on the stock. Loop Capital boosted their price target on Floor & Decor from $55.00 to $60.00 and gave the stock an “average” rating in a report on Monday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, July 4th. Finally, Piper Jaffray Companies upgraded Floor & Decor from a “neutral” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Wednesday, June 6th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $48.44.
The firm has a market cap of $3.57 billion, a P/E ratio of 53.16, a P/E/G ratio of 1.53 and a beta of -1.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.50 and a quick ratio of 0.21.
In other Floor & Decor news, Director George Vincent West sold 240,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $54.42, for a total transaction of $13,060,800.00. Following the transaction, the director now directly owns 167,938 shares in the company, valued at approximately $9,139,185.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian K. Robbins sold 17,044 shares of the stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $50.00, for a total value of $852,200.00. Following the transaction, the executive vice president now owns 10,343 shares in the company, valued at $517,150. The disclosure for this sale can be found here. Insiders sold 353,569 shares of company stock worth $19,195,371 over the last quarter. 8.20% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Floor & Decor during the 2nd quarter worth approximately $195,000. SG Americas Securities LLC bought a new position in shares of Floor & Decor during the 2nd quarter worth approximately $200,000. Pitcairn Co. bought a new position in shares of Floor & Decor during the 2nd quarter worth approximately $201,000. Oppenheimer & Co. Inc. bought a new position in shares of Floor & Decor during the 2nd quarter worth approximately $217,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Floor & Decor by 76.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,790 shares of the company’s stock worth $236,000 after buying an additional 2,080 shares in the last quarter.
About Floor & Decor (NYSE:FND)
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.
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