Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 7,710,000 shares, an increase of 27.0% from the June 15th total of 6,070,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 7.5% of the company’s stock are sold short.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Piper Sandler lowered their target price on Floor & Decor from $136.00 to $102.00 in a research note on Thursday, April 7th. Morgan Stanley cut their target price on shares of Floor & Decor from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of Floor & Decor from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, June 8th. Wedbush lowered their price target on shares of Floor & Decor from $130.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, May 6th. Finally, Citigroup reduced their price objective on shares of Floor & Decor from $137.00 to $106.00 in a report on Friday, May 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.77.
Floor & Decor Stock Performance
NYSE FND opened at $77.50 on Friday. The company has a fifty day moving average of $70.90 and a two-hundred day moving average of $86.75. The company has a market capitalization of $8.20 billion, a PE ratio of 30.04, a P/E/G ratio of 1.05 and a beta of 1.77. Floor & Decor has a 1 year low of $59.91 and a 1 year high of $145.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.21 and a quick ratio of 0.16.
Floor & Decor (NYSE:FND – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1 billion. Floor & Decor had a return on equity of 20.21% and a net margin of 7.57%. The business’s revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. As a group, analysts expect that Floor & Decor will post 2.89 earnings per share for the current year.
Hedge Funds Weigh In On Floor & Decor
A number of institutional investors have recently modified their holdings of FND. Intrust Bank NA increased its stake in Floor & Decor by 3.1% in the fourth quarter. Intrust Bank NA now owns 3,534 shares of the company’s stock valued at $459,000 after purchasing an additional 107 shares during the period. CIBC Asset Management Inc raised its stake in Floor & Decor by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 4,348 shares of the company’s stock valued at $565,000 after acquiring an additional 125 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in Floor & Decor by 2.9% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,451 shares of the company’s stock worth $579,000 after acquiring an additional 126 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Floor & Decor by 163.6% in the 4th quarter. Quadrant Capital Group LLC now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 126 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of Floor & Decor by 3.6% in the fourth quarter. Kestra Advisory Services LLC now owns 3,638 shares of the company’s stock valued at $473,000 after purchasing an additional 127 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.
About Floor & Decor
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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