Floor & Decor (NYSE:FND) Shares Gap Down After Analyst Downgrade

Shares of Floor & Decor Holdings, Inc. (NYSE:FND) gapped down before the market opened on Friday after UBS Group lowered their price target on the stock from $135.00 to $125.00. The stock had previously closed at $112.76, but opened at $109.87. UBS Group currently has a neutral rating on the stock. Floor & Decor shares last traded at $115.47, with a volume of 637,688 shares changing hands.

Other research analysts have also recently issued research reports about the company. Guggenheim lifted their price objective on Floor & Decor from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Sanford C. Bernstein cut shares of Floor & Decor from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, January 16th. Barclays increased their price objective on shares of Floor & Decor from $66.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, January 4th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Floor & Decor in a report on Friday. Finally, Stifel Nicolaus cut their price target on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $108.76.

Insider Activity

In related news, President Trevor Lang sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $123.28, for a total value of $1,602,640.00. Following the transaction, the president now owns 170,844 shares of the company’s stock, valued at $21,061,648.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO David Victor Christopherson sold 6,850 shares of Floor & Decor stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $118.70, for a total transaction of $813,095.00. Following the transaction, the chief accounting officer now directly owns 25,271 shares in the company, valued at $2,999,667.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Trevor Lang sold 13,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $123.28, for a total value of $1,602,640.00. Following the completion of the sale, the president now owns 170,844 shares of the company’s stock, valued at approximately $21,061,648.32. The disclosure for this sale can be found here. Insiders sold 90,867 shares of company stock valued at $11,016,089 in the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FND. Benjamin F. Edwards & Company Inc. raised its stake in Floor & Decor by 4.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,202 shares of the company’s stock worth $285,000 after acquiring an additional 96 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Floor & Decor by 24.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 577 shares of the company’s stock worth $64,000 after purchasing an additional 113 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Floor & Decor by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,389 shares of the company’s stock worth $2,609,000 after purchasing an additional 117 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Floor & Decor by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,141 shares of the company’s stock valued at $574,000 after purchasing an additional 120 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Floor & Decor by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,709 shares of the company’s stock valued at $1,195,000 after buying an additional 121 shares in the last quarter.

Floor & Decor Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.18 and a current ratio of 1.14. The company has a market cap of $12.07 billion, a P/E ratio of 54.61, a P/E/G ratio of 5.46 and a beta of 1.86. The firm’s fifty day moving average is $118.90 and its two-hundred day moving average is $106.27.

Floor & Decor (NYSE:FND) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Floor & Decor had a return on equity of 11.97% and a net margin of 5.11%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Floor & Decor Holdings, Inc. will post 1.91 earnings per share for the current fiscal year.

About Floor & Decor

Floor & Decor Holdings, Inc together with its subsidiaries, operates as a multi-channel specialty retailer of hard surface flooring and related accessories, and commercial surfaces seller in Georgia. The company offers tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative accessories, wall tiles, and installation materials and tools; and vanities, shower doors, bath accessories, faucets, sinks, custom countertops, bathroom mirrors, and bathroom lighting.