Short Interest in Floor & Decor Holdings, Inc. (NYSE:FND) Increases By 15.7{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d}
Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 12,300,000 shares, an increase of 15.7{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} from the October 31st total of 10,630,000 shares. Approximately 12.0{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} of the company’s shares are short sold. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is presently 7.9 days.
Hedge Funds Weigh In On Floor & Decor
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Floor & Decor by 0.5{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 2nd quarter. Arizona State Retirement System now owns 28,685 shares of the company’s stock valued at $1,806,000 after buying an additional 142 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Floor & Decor by 112.2{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 20,800 shares of the company’s stock valued at $1,310,000 after buying an additional 11,000 shares during the last quarter. Trexquant Investment LP raised its stake in shares of Floor & Decor by 99.9{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 2nd quarter. Trexquant Investment LP now owns 29,709 shares of the company’s stock valued at $1,870,000 after buying an additional 14,844 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Floor & Decor by 4.5{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} during the 2nd quarter. Russell Investments Group Ltd. now owns 75,296 shares of the company’s stock valued at $4,739,000 after buying an additional 3,243 shares during the last quarter. Finally, Stonnington Group LLC purchased a new position in shares of Floor & Decor during the 2nd quarter valued at about $218,000.
Analyst Ratings Changes
FND has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Floor & Decor from $80.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, November 4th. Citigroup increased their target price on Floor & Decor from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. Guggenheim dropped their target price on Floor & Decor to $90.00 in a research report on Tuesday, November 1st. Morgan Stanley dropped their target price on Floor & Decor from $100.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 4th. Finally, Telsey Advisory Group dropped their target price on Floor & Decor from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Floor & Decor has an average rating of “Moderate Buy” and a consensus target price of $92.93.
Floor & Decor Stock Performance
FND stock traded down $0.72 during midday trading on Friday, reaching $77.12. The stock had a trading volume of 622,887 shares, compared to its average volume of 1,395,356. The stock has a market cap of $8.18 billion, a PE ratio of 29.78, a P/E/G ratio of 1.15 and a beta of 1.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.17 and a current ratio of 1.41. The firm has a fifty day simple moving average of $72.42 and a two-hundred day simple moving average of $75.49. Floor & Decor has a 52-week low of $59.91 and a 52-week high of $133.31.
Floor & Decor (NYSE:FND – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Floor & Decor had a return on equity of 18.96{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d} and a net margin of 6.75{a57a8b399caa4911091be19c47013a92763fdea5dcb0fe03ef6810df8f2f239d}. As a group, equities research analysts anticipate that Floor & Decor will post 2.71 EPS for the current year.
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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