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. Approximately 7.5% of the shares of the stock are sold short. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 5.3 days.
Floor & Decor Price Performance
Floor & Decor stock opened at $76.39 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.09 billion, a PE ratio of 29.61, a P/E/G ratio of 1.03 and a beta of 1.77. Floor & Decor has a 12 month low of $59.91 and a 12 month high of $145.89. The stock has a 50-day moving average price of $70.72 and a two-hundred day moving average price of $86.81.
Floor & Decor (NYSE:FND – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Floor & Decor had a return on equity of 20.21% and a net margin of 7.57%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 31.5% compared to the same quarter last year. Analysts expect that Floor & Decor will post 2.89 EPS for the current year.
Analysts Set New Price Targets
Several analysts have recently issued reports on FND shares. Wells Fargo & Company reduced their target price on Floor & Decor from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, June 8th. Piper Sandler reduced their price objective on Floor & Decor from $136.00 to $102.00 in a research note on Thursday, April 7th. The Goldman Sachs Group lowered Floor & Decor from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $109.00 to $64.00 in a research note on Monday, June 27th. TheStreet lowered Floor & Decor from a “b” rating to a “c+” rating in a research note on Tuesday, March 22nd. Finally, Robert W. Baird reduced their price objective on Floor & Decor from $130.00 to $110.00 in a research note on Monday, May 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Floor & Decor has a consensus rating of “Moderate Buy” and a consensus price target of $107.92.
Hedge Funds Weigh In On Floor & Decor
A number of hedge funds have recently made changes to their positions in FND. Quadrant Capital Group LLC grew its stake in Floor & Decor by 163.6% during the fourth quarter. Quadrant Capital Group LLC now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 126 shares during the period. Confluence Wealth Services Inc. acquired a new stake in Floor & Decor during the fourth quarter worth approximately $30,000. Boston Partners acquired a new stake in Floor & Decor during the first quarter worth approximately $31,000. SJS Investment Consulting Inc. acquired a new stake in Floor & Decor in the first quarter valued at approximately $32,000. Finally, Ahrens Investment Partners LLC acquired a new stake in Floor & Decor in the fourth quarter valued at approximately $39,000. 96.48% of the stock is currently owned by institutional investors.
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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