Floor & Decor (NYSE:FND) Stock Crosses Above 50-Day Moving Average Following Analyst Downgrade

Floor & Decor Holdings, Inc. (NYSE:FND)’s stock price crossed above its fifty day moving average during trading on Tuesday after Weiss Ratings upgraded the stock from a sell (d+) rating to a hold (c-) rating. The stock has a fifty day moving average of $48.26 and traded as high as $48.40. Floor & Decor shares last traded at $48.3010, with a volume of 3,154,836 shares.

Several other equities research analysts also recently issued reports on FND. Morgan Stanley increased their price objective on shares of Floor & Decor from $56.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Evercore set a $60.00 price objective on shares of Floor & Decor in a report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on Floor & Decor from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. The Goldman Sachs Group set a $53.00 target price on shares of Floor & Decor in a report on Saturday, August 1st. Finally, Wall Street Zen raised Floor & Decor from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.50.

Insiders Place Their Bets

In other news, insider Thomas V. Taylor sold 218,189 shares of Floor & Decor stock in a transaction on Friday, August 7th. The stock was sold at an average price of $62.30, for a total value of $13,593,174.70. Following the transaction, the insider owned 229,820 shares in the company, valued at approximately $14,317,786. This trade represents a 48.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Floor & Decor

A number of institutional investors and hedge funds have recently bought and sold shares of FND. Versant Capital Management Inc grew its position in Floor & Decor by 3,263.2% in the 3rd quarter. Versant Capital Management Inc now owns 639 shares of the company’s stock worth $29,000 after purchasing an additional 620 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Floor & Decor during the 1st quarter worth approximately $31,000. TD Waterhouse Canada Inc. bought a new position in shares of Floor & Decor during the 3rd quarter worth approximately $43,000. Leonteq Securities AG lifted its position in shares of Floor & Decor by 320.7% during the 1st quarter. Leonteq Securities AG now owns 1,077 shares of the company’s stock worth $55,000 after buying an additional 821 shares in the last quarter. Finally, GK Wealth Management LLC purchased a new position in shares of Floor & Decor in the 3rd quarter worth approximately $57,000.

Floor & Decor Price Performance

The business has a 50 day moving average price of $47.94 and a two-hundred day moving average price of $55.03. The stock has a market cap of $5.35 billion, a PE ratio of 23.36, a P/E/G ratio of 3.90 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.33.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Floor & Decor had a return on equity of 8.20% and a net margin of 4.93%. Floor & Decor’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Research analysts expect that Floor & Decor Holdings, Inc. will post 1.96 earnings per share for the current fiscal year.

About Floor & Decor

Floor & Decor Holdings, Inc is a specialty retailer focused on hard-surface flooring and related products. The company offers a broad selection of tile, natural stone, wood, laminate and vinyl flooring, along with installation materials, tools, accessories and home-decor items.

Floor & Decor serves homeowners, professional installers, designers, remodelers and commercial customers through warehouse-format stores, smaller design studios and its e-commerce platform. Its stores are designed to provide a wide product assortment for renovation and construction projects, while also offering services such as design support and product fulfillment.

Founded in 2000 and headquartered in Atlanta, Georgia, Floor & Decor operates primarily in the United States.