Floor & Decor (NYSE:FND) Shares Gap Down After Analyst Downgrade

Floor & Decor Holdings, Inc. (NYSE:FND)’s share price gapped down prior to trading on Friday after UBS Group lowered their price target on the stock from $135.00 to $125.00. The stock had previously closed at $112.76, but opened at $109.87. UBS Group currently has a neutral rating on the stock. Floor & Decor shares last traded at $115.47, with a volume of 637,688 shares.

Other research analysts also recently issued research reports about the stock. Bank of America increased their price objective on shares of Floor & Decor from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Wells Fargo & Company downgraded Floor & Decor from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $85.00 to $105.00 in a research note on Thursday, January 4th. Barclays raised their target price on shares of Floor & Decor from $66.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, January 4th. Piper Sandler upped their price target on shares of Floor & Decor from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Floor & Decor has a consensus rating of “Hold” and an average price target of $108.76.

Insider Buying and Selling at Floor & Decor

In other news, EVP Steven Alan Denny sold 5,152 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $123.52, for a total value of $636,375.04. Following the sale, the executive vice president now directly owns 13,271 shares in the company, valued at approximately $1,639,233.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Floor & Decor news, CFO Bryan Langley sold 5,865 shares of the firm’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 completion of the sale, the chief financial officer now owns 17,422 shares of the company’s stock, valued at $2,088,200.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Steven Alan Denny sold 5,152 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $123.52, for a total transaction of $636,375.04. Following the transaction, the executive vice president now owns 13,271 shares in the company, valued at approximately $1,639,233.92. The disclosure for this sale can be found here. Insiders have sold 90,867 shares of company stock worth $11,016,089 over the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Trading of Floor & Decor

A number of institutional investors have recently bought and sold shares of FND. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Floor & Decor by 4.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,202 shares of the company’s stock worth $285,000 after buying an additional 96 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Floor & Decor by 24.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 577 shares of the company’s stock valued at $64,000 after purchasing an additional 113 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Floor & Decor by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,389 shares of the company’s stock valued at $2,609,000 after purchasing an additional 117 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Floor & Decor by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,141 shares of the company’s stock worth $574,000 after buying an additional 120 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Floor & Decor by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,709 shares of the company’s stock worth $1,195,000 after buying an additional 121 shares during the last quarter.

Floor & Decor Stock Performance

The firm’s 50 day simple moving average is $118.98 and its 200 day simple moving average is $105.92. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 5.30 and a beta of 1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.18 and a current ratio of 1.14.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Floor & Decor had a net margin of 5.57% and a return on equity of 13.38%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Sell-side analysts forecast that Floor & Decor Holdings, Inc. will post 1.91 earnings per share for the current fiscal year.

About Floor & Decor

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.