Floor & Decor Holdings, Inc. (NYSE:FND)’s share price was down 6.7% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $34.89 and last traded at $35.54, with a volume of 2,137,365 shares traded. The stock had previously closed at $38.10.
Specifically, major shareholder Corporate Opportunities F. Ares sold 6,772,781 shares of Floor & Decor Holdings stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.50, for a total transaction of $260,752,068.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Trevor Lang sold 46,200 shares of Floor & Decor Holdings stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.50, for a total value of $1,778,700.00. Following the sale, the chief financial officer now owns 192,519 shares of the company’s stock, valued at approximately $7,411,981.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,118,047 shares of company stock valued at $274,044,810.
FND has been the topic of a number of research analyst reports. BTIG Research reissued a “buy” rating and issued a $42.00 price target on shares of Floor & Decor Holdings in a research note on Wednesday, May 10th. Credit Suisse Group set a $43.00 price target on Floor & Decor Holdings and gave the stock a “buy” rating in a research note on Sunday, May 28th. Zacks Investment Research raised Floor & Decor Holdings from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Monday, July 24th. Jefferies Group LLC initiated coverage on Floor & Decor Holdings in a research note on Monday, May 22nd. They issued a “hold” rating and a $38.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on Floor & Decor Holdings in a research note on Friday, May 26th. They issued a “market perform” rating and a $40.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Floor & Decor Holdings has an average rating of “Hold” and a consensus price target of $41.33.
The firm’s 50-day moving average is $37.85 and its 200-day moving average is $37.72. The stock has a market cap of $3.29 billion and a price-to-earnings ratio of 51.55.
Floor & Decor Holdings (NYSE:FND) last issued its earnings results on Thursday, July 27th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $344 million during the quarter, compared to analysts’ expectations of $343.73 million. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts anticipate that Floor & Decor Holdings, Inc. will post $0.60 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new position in shares of Floor & Decor Holdings during the second quarter worth approximately $388,000. Russell Investments Group Ltd. purchased a new position in shares of Floor & Decor Holdings during the second quarter worth approximately $662,000. Fisher Asset Management LLC purchased a new position in shares of Floor & Decor Holdings during the second quarter worth approximately $788,000. Bank of New York Mellon Corp purchased a new position in shares of Floor & Decor Holdings during the second quarter worth approximately $912,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Floor & Decor Holdings during the second quarter worth approximately $1,016,000. Hedge funds and other institutional investors own 2.24% of the company’s stock.
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About Floor & Decor Holdings
Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).
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