Floor & Decor Holdings’ (FND) “Hold” Rating Reiterated at Wells Fargo & Company
Floor & Decor Holdings, Inc. (NYSE:FND)‘s stock had its “hold” rating reiterated by Wells Fargo & Company in a note issued to investors on Thursday. They presently have a $42.00 price target on the stock.
The analysts wrote, “We are raising our FY17/18E EPS to $0.66/$0.81 and notching up adjusted EBITDA to $152.5M/$200.5 (vs. $143M/$182M prior). We anticipate gross margin expansion of 25bps in Q4 as FND product margins offset higher distribution network costs (expansions/relocations). Further, we expect continued sales momentum to offset deleverage from new store costs (10 and 17 new store openings in 2H’17 and FY18).””
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Floor & Decor Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. J P Morgan Chase & Co started coverage on Floor & Decor Holdings in a research note on Monday, October 16th. They issued an “overweight” rating and a $46.00 target price on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $42.00 target price on shares of Floor & Decor Holdings in a research note on Thursday, October 12th. BMO Capital Markets started coverage on Floor & Decor Holdings in a research note on Thursday, September 14th. They issued a “market perform” rating and a $41.00 target price on the stock. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $42.00 target price on shares of Floor & Decor Holdings in a research note on Tuesday, September 5th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $41.53.
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In other Floor & Decor Holdings news, Director George Vincent West sold 50,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $37.90, for a total transaction of $1,895,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several institutional investors have recently modified their holdings of FND. Fisher Asset Management LLC purchased a new position in shares of Floor & Decor Holdings during the 2nd quarter worth $788,000. Russell Investments Group Ltd. purchased a new position in shares of Floor & Decor Holdings during the 2nd quarter worth $662,000. Spark Investment Management LLC purchased a new position in shares of Floor & Decor Holdings during the 2nd quarter worth $2,100,000. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Floor & Decor Holdings during the 2nd quarter worth $79,390,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Floor & Decor Holdings during the 2nd quarter worth $1,016,000. 92.78% of the stock is currently owned by institutional investors.
Floor & Decor Holdings Company Profile
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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