TD Cowen Initiates Coverage on Floor & Decor (NYSE:FND)

TD Cowen initiated coverage on shares of Floor & Decor (NYSE:FND) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a hold rating and a $125.00 price target on the stock.

Several other research firms have also commented on FND. Wells Fargo & Company lowered Floor & Decor from an overweight rating to an equal weight rating and lifted their price target for the stock from $85.00 to $105.00 in a report on Thursday, January 4th. The Goldman Sachs Group boosted their price objective on shares of Floor & Decor from $71.00 to $79.00 and gave the company a neutral rating in a report on Monday, February 26th. Barclays lifted their target price on Floor & Decor from $66.00 to $75.00 and gave the company an underweight rating in a research report on Thursday, January 4th. Piper Sandler lifted their target price on Floor & Decor from $105.00 to $115.00 and gave the company a neutral rating in a research report on Tuesday. Finally, Bank of America lifted their target price on Floor & Decor from $125.00 to $140.00 and gave the company a buy rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $110.67.

Floor & Decor Stock Performance

FND opened at $112.39 on Wednesday. The firm has a market capitalization of $12.00 billion, a PE ratio of 49.51, a P/E/G ratio of 5.52 and a beta of 1.85. Floor & Decor has a 12-month low of $76.30 and a 12-month high of $135.67. The firm has a 50 day moving average of $118.65 and a two-hundred day moving average of $103.77. 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 (NYSE:FND) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Floor & Decor had a net margin of 5.57% and a return on equity of 13.38%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, analysts anticipate that Floor & Decor will post 1.92 EPS for the current year.

Insider Buying and Selling at Floor & Decor

In other Floor & Decor news, EVP Steven Alan Denny sold 5,152 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $123.52, for a total value of $636,375.04. Following the completion of the sale, the executive vice president now owns 13,271 shares in the company, valued at $1,639,233.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $1,602,640.00. Following the completion of the sale, the president now owns 170,844 shares in the company, valued at $21,061,648.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Alan Denny sold 5,152 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $123.52, for a total value of $636,375.04. Following the sale, the executive vice president now owns 13,271 shares of the company’s stock, valued at approximately $1,639,233.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,867 shares of company stock worth $11,016,089. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FND. Polen Capital Management LLC raised its position in Floor & Decor by 59,133.5% in the fourth quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock worth $27,861,000 after acquiring an additional 25,141,795 shares in the last quarter. BlackRock Inc. raised its position in Floor & Decor by 21.4% in the first quarter. BlackRock Inc. now owns 7,948,493 shares of the company’s stock worth $780,701,000 after acquiring an additional 1,401,173 shares in the last quarter. Capital World Investors raised its position 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 acquiring an additional 627,256 shares in the last quarter. FMR LLC raised its position in Floor & Decor by 13.1% in the third quarter. FMR LLC now owns 4,605,699 shares of the company’s stock worth $416,816,000 after acquiring an additional 531,891 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Floor & Decor by 435.1% in the third quarter. Wellington Management Group LLP now owns 653,740 shares of the company’s stock worth $59,163,000 after acquiring an additional 531,574 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.