Zacks Investment Research cut shares of Floor & Decor Holdings, Inc. (NYSE:FND) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Floor & Decor Holdings, Inc. is a multi-channel specialty retailer of hard surface flooring and related accessories which offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring. Floor & Decor Holdings, Inc. is headquartered in Smyrna, Georgia. “
FND has been the topic of a number of other research reports. Jefferies Group LLC assumed coverage on shares of Floor & Decor Holdings in a research note on Monday, May 22nd. They issued a hold rating and a $38.00 target price on the stock. Telsey Advisory Group assumed coverage on shares of Floor & Decor Holdings in a research note on Tuesday, July 11th. They issued a market perform rating and a $38.00 target price on the stock. BTIG Research reissued a buy rating and issued a $42.00 target price on shares of Floor & Decor Holdings in a research note on Wednesday, May 10th. Wedbush raised shares of Floor & Decor Holdings from a neutral rating to an outperform rating and set a $45.00 target price on the stock in a research note on Monday, July 24th. They noted that the move was a valuation call. Finally, Wells Fargo & Company assumed coverage on shares of Floor & Decor Holdings in a research note on Friday, May 26th. They issued a market perform rating and a $40.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $40.85.
Shares of Floor & Decor Holdings (FND) traded down 3.00% during mid-day trading on Friday, reaching $33.29. The company’s stock had a trading volume of 419,516 shares. The firm’s 50 day moving average price is $34.93 and its 200-day moving average price is $37.20. Floor & Decor Holdings has a 1-year low of $5.69 and a 1-year high of $46.95. The company has a market capitalization of $3.13 billion and a price-to-earnings ratio of 49.03.
Floor & Decor Holdings (NYSE:FND) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. The company had revenue of $344 million during the quarter, compared to analyst estimates of $343.73 million. The company’s revenue was up 29.4% on a year-over-year basis. On average, analysts predict that Floor & Decor Holdings will post $0.60 EPS for the current year.
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In related news, CFO Trevor Lang sold 46,200 shares of Floor & Decor Holdings stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas V. Taylor sold 154,262 shares of Floor & Decor Holdings stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.50, for a total transaction of $5,939,087.00. Following the sale, the chief executive officer now directly owns 158,781 shares in the company, valued at approximately $6,113,068.50. The disclosure for this sale can be found here. In the last three months, insiders sold 7,118,047 shares of company stock worth $274,044,810.
A number of large investors have recently added to or reduced their stakes in the company. Ares Management LLC purchased a new stake in Floor & Decor Holdings during the second quarter valued at about $2,049,069,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Floor & Decor Holdings during the second quarter valued at about $79,390,000. Vanguard Group Inc. purchased a new stake in Floor & Decor Holdings during the second quarter valued at about $32,590,000. Alliancebernstein L.P. purchased a new stake in Floor & Decor Holdings during the second quarter valued at about $31,751,000. Finally, FMR LLC purchased a new stake in Floor & Decor Holdings during the second quarter valued at about $25,899,000. 2.99% of the stock is currently owned by hedge funds and other institutional investors.
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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