Loop Capital Initiates Coverage on Floor & Decor Holdings, Inc. (FND)

Loop Capital started coverage on shares of Floor & Decor Holdings, Inc. (NYSE:FND) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued a hold rating and a $35.00 price target on the stock.

Other analysts have also issued reports about the stock. BTIG Research reaffirmed a buy rating and set a $42.00 price target on shares of Floor & Decor Holdings in a research report on Wednesday, May 10th. Credit Suisse Group set a $43.00 price objective on shares of Floor & Decor Holdings and gave the company a buy rating in a report on Sunday, May 28th. Zacks Investment Research upgraded shares of Floor & Decor Holdings from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Monday, July 24th. Jefferies Group LLC started coverage on shares of Floor & Decor Holdings in a report on Monday, May 22nd. They issued a hold rating and a $38.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on shares of Floor & Decor Holdings in a report on Friday, May 26th. They issued a market perform rating and a $40.00 price objective 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 currently has a consensus rating of Hold and an average price target of $40.85.

Shares of Floor & Decor Holdings (NYSE:FND) opened at 32.95 on Friday. Floor & Decor Holdings has a 52-week low of $29.37 and a 52-week high of $46.99. The firm has a 50-day moving average of $34.75 and a 200-day moving average of $37.15. The stock has a market cap of $3.10 billion and a P/E ratio of 48.53.

Floor & Decor Holdings (NYSE:FND) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. The firm had revenue of $344 million for the quarter, compared to the consensus estimate of $343.73 million. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities analysts expect that Floor & Decor Holdings will post $0.60 EPS for the current fiscal year.

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In related news, major shareholder Corporate Opportunities F. Ares sold 6,772,781 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total value of $260,752,068.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Lisa Laube sold 87,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total transaction of $3,349,500.00. Following the completion of the transaction, the chief marketing officer now owns 165,987 shares in the company, valued at $6,390,499.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,118,047 shares of company stock worth $274,044,810.

Several institutional investors have recently added to or reduced their stakes in FND. Ares Management LLC acquired a new position in Floor & Decor Holdings during the second quarter valued at approximately $2,049,069,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Floor & Decor Holdings during the second quarter valued at approximately $79,390,000. Vanguard Group Inc. acquired a new position in Floor & Decor Holdings during the second quarter valued at approximately $32,590,000. Alliancebernstein L.P. acquired a new position in Floor & Decor Holdings during the second quarter valued at approximately $31,751,000. Finally, FMR LLC acquired a new position in Floor & Decor Holdings during the second quarter valued at approximately $25,899,000. Institutional investors and hedge funds own 2.99% of the company’s stock.

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).