Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) saw a large decline in short interest in August. As of August 15th, there was short interest totalling 8,110,000 shares, a decline of 8.7% from the July 31st total of 8,880,000 shares. Based on an average daily trading volume, of 1,460,000 shares, the short-interest ratio is currently 5.6 days. Currently, 8.0% of the shares of the stock are sold short.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on FND shares. Wedbush dropped their price target on Floor & Decor from $130.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, May 6th. Citigroup upped their price target on Floor & Decor to $112.00 in a research report on Monday, August 15th. MKM Partners assumed coverage on Floor & Decor in a research note on Thursday, June 23rd. They set a “neutral” rating and a $65.00 price target on the stock. The Goldman Sachs Group cut Floor & Decor from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $109.00 to $64.00 in a research note on Monday, June 27th. Finally, William Blair reiterated an “outperform” rating on shares of Floor & Decor in a research note on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.14.
Floor & Decor Stock Performance
NYSE FND opened at $82.91 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.18. Floor & Decor has a 52-week low of $59.91 and a 52-week high of $145.89. The business’s 50-day moving average price is $79.47 and its 200 day moving average price is $81.99. The firm has a market cap of $8.79 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.27 and a beta of 1.85.
Floor & Decor (NYSE:FND – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Floor & Decor had a return on equity of 19.25% and a net margin of 7.09%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business’s revenue was up 26.7% on a year-over-year basis. On average, equities research analysts expect that Floor & Decor will post 2.71 earnings per share for the current year.
Insiders Place Their Bets
In other Floor & Decor news, EVP Steven Alan Denny sold 6,028 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $95.10, for a total transaction of $573,262.80. Following the completion of the sale, the executive vice president now directly owns 4,477 shares in the company, valued at approximately $425,762.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Floor & Decor
A number of hedge funds have recently added to or reduced their stakes in FND. Price T Rowe Associates Inc. MD lifted its position in Floor & Decor by 729.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,870,442 shares of the company’s stock valued at $432,563,000 after purchasing an additional 6,042,378 shares during the period. Madison Asset Management LLC acquired a new stake in Floor & Decor in the second quarter valued at about $35,695,000. DF Dent & Co. Inc. lifted its position in Floor & Decor by 148.1% in the second quarter. DF Dent & Co. Inc. now owns 731,779 shares of the company’s stock valued at $46,073,000 after purchasing an additional 436,859 shares during the period. Riverbridge Partners LLC lifted its position in Floor & Decor by 53.2% in the second quarter. Riverbridge Partners LLC now owns 1,077,838 shares of the company’s stock valued at $67,861,000 after purchasing an additional 374,098 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Floor & Decor by 229.8% during the 4th quarter. Point72 Asset Management L.P. now owns 426,394 shares of the company’s stock valued at $55,435,000 after acquiring an additional 297,094 shares during the period.
Floor & Decor Company Profile
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The company’s stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories.
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