Floor & Decor (NYSE:FND) Rating Lowered to Strong Sell at ValuEngine

Floor & Decor (NYSE:FND) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on FND. Citigroup cut their price objective on shares of Floor & Decor from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. UBS Group lowered their price target on shares of Floor & Decor from $55.00 to $51.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wedbush upped their price target on shares of Floor & Decor from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Guggenheim set a $55.00 price target on shares of Floor & Decor and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research lowered shares of Floor & Decor from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.64.

Shares of Floor & Decor stock traded up $0.03 during trading on Wednesday, reaching $47.60. The company’s stock had a trading volume of 1,212,122 shares, compared to its average volume of 1,287,963. Floor & Decor has a 52-week low of $23.30 and a 52-week high of $53.00. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 1.84 and a beta of 1.94. The firm’s 50-day moving average is $48.32 and its two-hundred day moving average is $43.23. The company has a quick ratio of 0.28, a current ratio of 1.33 and a debt-to-equity ratio of 1.32.

Floor & Decor (NYSE:FND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. Floor & Decor had a net margin of 6.35% and a return on equity of 18.32%. The company had revenue of $520.31 million during the quarter, compared to analysts’ expectations of $510.73 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts anticipate that Floor & Decor will post 1.11 EPS for the current year.

In other Floor & Decor news, EVP David Victor Christopherson sold 2,675 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $52.00, for a total value of $139,100.00. Following the completion of the transaction, the executive vice president now directly owns 36,976 shares in the company, valued at approximately $1,922,752. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trevor Lang sold 42,335 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $44.02, for a total transaction of $1,863,586.70. Following the completion of the transaction, the chief financial officer now owns 181,004 shares of the company’s stock, valued at $7,967,796.08. The disclosure for this sale can be found here. Insiders have sold a total of 4,276,884 shares of company stock valued at $186,455,084 over the last quarter. 7.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments LLC bought a new position in Floor & Decor in the 2nd quarter worth $73,000. Treasurer of the State of North Carolina grew its position in shares of Floor & Decor by 15.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 26,727 shares of the company’s stock worth $1,120,000 after buying an additional 3,500 shares during the period. Royal Bank of Canada grew its position in shares of Floor & Decor by 3.1% in the 2nd quarter. Royal Bank of Canada now owns 159,374 shares of the company’s stock worth $6,679,000 after buying an additional 4,836 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Floor & Decor in the 2nd quarter worth about $277,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Floor & Decor in the 2nd quarter worth about $232,000.

About Floor & Decor

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer 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. It serves professional installers, commercial businesses, and do it yourself customers.

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Analyst Recommendations for Floor & Decor (NYSE:FND)

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