Envestnet Asset Management Inc. increased its stake in Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) by 13.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,647 shares of the company’s stock after purchasing an additional 33,531 shares during the period. Envestnet Asset Management Inc. owned approximately 0.27% of Floor & Decor worth $23,542,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of FND. Quadrant Capital Group LLC raised its stake in Floor & Decor by 163.6% in the fourth quarter. Quadrant Capital Group LLC now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 126 shares in the last quarter. Confluence Wealth Services Inc. acquired a new position in Floor & Decor in the fourth quarter valued at about $30,000. Ellevest Inc. raised its stake in Floor & Decor by 40.5% in the first quarter. Ellevest Inc. now owns 617 shares of the company’s stock valued at $50,000 after purchasing an additional 178 shares in the last quarter. National Bank of Canada FI acquired a new position in Floor & Decor in the fourth quarter valued at about $52,000. Finally, Hardy Reed LLC acquired a new position in Floor & Decor in the first quarter valued at about $85,000. Institutional investors and hedge funds own 96.48% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on FND. Piper Sandler downgraded Floor & Decor from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $103.00 to $75.00 in a research note on Friday, July 29th. Morgan Stanley lowered their target price on Floor & Decor from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Wedbush lowered their target price on Floor & Decor from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, May 6th. Robert W. Baird lowered their target price on Floor & Decor from $130.00 to $110.00 in a research note on Monday, May 2nd. Finally, Gordon Haskett downgraded Floor & Decor from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Floor & Decor presently has an average rating of “Moderate Buy” and a consensus target price of $104.36.
Floor & Decor Stock Performance
Floor & Decor (NYSE:FND – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03. Floor & Decor had a return on equity of 20.21% and a net margin of 7.57%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue was up 31.5% on a year-over-year basis. Equities research analysts anticipate that Floor & Decor Holdings, Inc. will post 2.85 earnings per share for the current year.
Floor & Decor 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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