Stock analysts at Stifel Nicolaus began coverage on shares of Floor & Decor (NYSE:FND) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.
FND has been the topic of several other reports. J P Morgan Chase & Co assumed coverage on shares of Floor & Decor in a research report on Monday, October 16th. They issued an “overweight” rating and a $46.00 price target on the stock. Loop Capital assumed coverage on shares of Floor & Decor in a research report on Friday, August 18th. They issued a “hold” rating and a $35.00 price target on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $42.00 price target on shares of Floor & Decor in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 12th. Finally, Telsey Advisory Group upgraded shares of Floor & Decor from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $47.00 in a research report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.93.
Floor & Decor (NYSE FND) traded down $0.15 on Wednesday, reaching $43.19. 460,994 shares of the company’s stock traded hands, compared to its average volume of 563,602. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.33. Floor & Decor has a fifty-two week low of $29.37 and a fifty-two week high of $46.99.
In other news, EVP Brian K. Robbins sold 9,600 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $41.20, for a total value of $395,520.00. Following the completion of the sale, the executive vice president now directly owns 13,160 shares of the company’s stock, valued at $542,192. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Norman Axelrod sold 117,038 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $34.92, for a total transaction of $4,086,966.96. Following the completion of the sale, the chairman now directly owns 3,095 shares of the company’s stock, valued at $108,077.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,277,666 shares of company stock valued at $185,289,781.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ares Management LLC purchased a new stake in shares of Floor & Decor in the second quarter worth $2,049,069,000. FS Capital Partners VI LLC purchased a new stake in shares of Floor & Decor in the second quarter worth $993,798,000. Gilder Gagnon Howe & Co. LLC grew its stake in Floor & Decor by 30.8% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,644,866 shares of the company’s stock valued at $102,965,000 after acquiring an additional 622,703 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Floor & Decor by 1,007.3% during the third quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock valued at $64,659,000 after acquiring an additional 1,510,900 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new position in Floor & Decor during the second quarter valued at $32,590,000. 93.51% of the stock is owned by hedge funds and other institutional investors.
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Floor & Decor 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).
