Floor & Decor (NYSE:FND) Price Target Raised to $115.00

Floor & Decor (NYSE:FND) had its target price upped by equities research analysts at Piper Sandler from $105.00 to $115.00 in a research note issued to investors 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 current price.

A number of other research firms have also recently issued reports on FND. Bank of America raised their target price on Floor & Decor from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company cut shares of Floor & Decor from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $85.00 to $105.00 in a research report on Thursday, January 4th. Stifel Nicolaus cut their price target on Floor & Decor from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Wedbush raised their target price on Floor & Decor from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Sanford C. Bernstein cut Floor & Decor from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Floor & Decor currently has an average rating of “Hold” and an average price target of $109.95.

Floor & Decor Stock Performance

Shares of NYSE:FND traded up $0.49 on Tuesday, reaching $122.10. 89,903 shares of the company’s stock were exchanged, compared to its average volume of 1,404,388. The business’s 50-day moving average is $117.60 and its two-hundred day moving average is $103.24. The company has a quick ratio of 0.18, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. Floor & Decor has a fifty-two week low of $76.30 and a fifty-two week high of $135.67. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 53.51, a PEG ratio of 5.74 and a beta of 1.85.

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

Insiders Place Their Bets

In related news, Director Norman Axelrod sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.97, for a total value of $4,798,800.00. Following the completion of the sale, the director now owns 226,080 shares in the company, valued at approximately $27,122,817.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Floor & Decor news, CFO Bryan Langley sold 5,865 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $119.86, for a total value of $702,978.90. Following the transaction, the chief financial officer now directly owns 17,422 shares of the company’s stock, valued at approximately $2,088,200.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Norman Axelrod sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $119.97, for a total value of $4,798,800.00. Following the sale, the director now directly owns 226,080 shares of the company’s stock, valued at $27,122,817.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,867 shares of company stock worth $11,016,089. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Floor & Decor

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

Floor & Decor Company Profile

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.