Floor & Decor (NYSE:FND) Announces Quarterly Earnings Results

Floor & Decor (NYSE:FND – Get Rating) issued its quarterly earnings data on Thursday. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03, Briefing.com reports. Floor & Decor had a net margin of 7.09% and a return on equity of 19.85%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s revenue was up 26.7% on a year-over-year basis. Floor & Decor updated its FY 2022 guidance to $2.65-$2.80 EPS and its FY22 guidance to $2.65 to $2.80 EPS.

Floor & Decor Stock Performance

NYSE FND traded up $11.06 during trading hours on Friday, hitting $92.92. The company’s stock had a trading volume of 3,369,778 shares, compared to its average volume of 1,400,994. Floor & Decor has a 12 month low of $59.91 and a 12 month high of $145.89. The company’s 50 day simple moving average is $72.97 and its two-hundred day simple moving average is $83.83. The company has a market cap of $9.84 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.21 and a quick ratio of 0.16.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FND shares. Wedbush reduced their target price on shares of Floor & Decor from $130.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, May 6th. The Goldman Sachs Group lowered shares of Floor & Decor from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $109.00 to $64.00 in a research note on Monday, June 27th. Piper Sandler lowered shares of Floor & Decor from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $103.00 to $75.00 in a research report on Friday, July 29th. MKM Partners initiated coverage on shares of Floor & Decor in a report on Thursday, June 23rd. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Floor & Decor from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.07.

Institutional Investors Weigh In On Floor & Decor

Several large investors have recently bought and sold shares of FND. Cambridge Investment Research Advisors Inc. increased its holdings in Floor & Decor by 32.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,652 shares of the company’s stock worth $539,000 after buying an additional 1,619 shares in the last quarter. HighTower Advisors LLC increased its holdings in Floor & Decor by 28.2% in the 1st quarter. HighTower Advisors LLC now owns 13,092 shares of the company’s stock worth $1,062,000 after buying an additional 2,882 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Floor & Decor by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,055 shares of the company’s stock valued at $733,000 after purchasing an additional 4,138 shares during the period. Bank of Montreal Can grew its stake in shares of Floor & Decor by 4.3% during the 1st quarter. Bank of Montreal Can now owns 11,755 shares of the company’s stock valued at $1,047,000 after purchasing an additional 490 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Floor & Decor by 273.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 789 shares of the company’s stock valued at $64,000 after purchasing an additional 578 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Floor & Decor Company Profile

(Get Rating)

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories.