Floor & Decor (NYSE:FND – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65-$2.80 for the period, compared to the consensus estimate of $2.83. The company issued revenue guidance of $4.29 billion-$4.33 billion, compared to the consensus revenue estimate of $4.32 billion.
Floor & Decor Stock Performance
Shares of NYSE FND opened at $88.86 on Thursday. The business’s 50-day moving average price is $77.73 and its two-hundred day moving average price is $82.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.26 and a quick ratio of 0.14. Floor & Decor has a one year low of $59.91 and a one year high of $145.89. The company has a market capitalization of $9.42 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 1.36 and a beta of 1.85.
Floor & Decor (NYSE:FND – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.76 earnings per share 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. Analysts anticipate that Floor & Decor will post 2.71 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on FND shares. The Goldman Sachs Group cut Floor & Decor from a buy rating to a neutral rating and cut their price objective for the stock from $109.00 to $64.00 in a research report on Monday, June 27th. Wedbush cut their price objective 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 boosted their price objective on Floor & Decor to $112.00 in a research report on Monday, August 15th. Piper Sandler cut Floor & Decor from an overweight rating to a neutral rating and cut their price objective for the stock from $103.00 to $75.00 in a research report on Friday, July 29th. Finally, Gordon Haskett cut Floor & Decor from a buy rating to an accumulate rating in a research report on Friday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Floor & Decor presently has an average rating of Moderate Buy and an average target price of $105.14.
Insider Buying and Selling at Floor & Decor
In related news, EVP Steven Alan Denny sold 6,028 shares of Floor & Decor stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $95.10, for a total value of $573,262.80. Following the completion of the transaction, the executive vice president now directly owns 4,477 shares of the company’s stock, valued at $425,762.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Floor & Decor by 7.0% in the first quarter. Wellington Management Group LLP now owns 990,567 shares of the company’s stock worth $80,236,000 after purchasing an additional 64,616 shares during the period. Verition Fund Management LLC acquired a new position in shares of Floor & Decor during the 1st quarter worth about $4,580,000. BlackRock Inc. grew its position in shares of Floor & Decor by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,580,259 shares of the company’s stock worth $533,001,000 after buying an additional 55,279 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Floor & Decor during the 1st quarter worth about $3,431,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Floor & Decor by 93.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 85,163 shares of the company’s stock worth $5,362,000 after buying an additional 41,034 shares during the period. 96.48% of the stock is owned by institutional investors.
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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