TD Cowen Lowers Floor & Decor (NYSE:FND) Price Target to $115.00

Floor & Decor (NYSE:FND) had its price target cut by TD Cowen from $125.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 1.73% from the company’s current price.

FND has been the subject of several other research reports. Wedbush reissued an “outperform” rating and set a $125.00 price target on shares of Floor & Decor in a research report on Friday. Guggenheim boosted their price target on Floor & Decor from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Piper Sandler upped their price target on Floor & Decor from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Bank of America lifted their price objective on Floor & Decor from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Mizuho lowered their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $108.76.

Floor & Decor Stock Up 0.2 %

Shares of FND stock traded up $0.28 during trading hours on Friday, hitting $113.04. 2,307,069 shares of the company’s stock traded hands, compared to its average volume of 1,240,906. The company has a quick ratio of 0.18, a current ratio of 1.14 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $118.90 and its two-hundred day simple moving average is $106.27. Floor & Decor has a 12-month low of $76.30 and a 12-month high of $135.67. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 5.48 and a beta of 1.86.

Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Floor & Decor had a net margin of 5.11% and a return on equity of 11.97%. Floor & Decor’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts expect that Floor & Decor will post 1.9 EPS for the current year.

Insider Activity

In related news, President Trevor Lang sold 13,000 shares of the company’s stock in a transaction 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 completion of the transaction, the president now owns 170,844 shares of the company’s stock, valued at approximately $21,061,648.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Trevor Lang sold 13,000 shares of Floor & Decor stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $123.28, for a total transaction of $1,602,640.00. Following the sale, the president now owns 170,844 shares in the company, valued at $21,061,648.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Norman Axelrod sold 40,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $119.97, for a total transaction of $4,798,800.00. Following the completion of the transaction, the director now directly owns 226,080 shares in the company, valued at approximately $27,122,817.60. The disclosure for this sale can be found here. Insiders have sold a total of 90,867 shares of company stock valued at $11,016,089 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Polen Capital Management LLC increased its holdings in shares of Floor & Decor by 59,133.5% in the 4th quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock worth $27,861,000 after buying an additional 25,141,795 shares during the last quarter. Capital World Investors increased its stake in Floor & Decor by 5.6% during the fourth quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock worth $1,328,518,000 after acquiring an additional 627,256 shares during the last quarter. Vanguard Group Inc. raised its position in Floor & Decor by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,658,747 shares of the company’s stock valued at $1,077,530,000 after purchasing an additional 300,506 shares during the period. Capital Research Global Investors lifted its stake in shares of Floor & Decor by 4.8% in the 4th quarter. Capital Research Global Investors now owns 6,537,191 shares of the company’s stock valued at $729,327,000 after purchasing an additional 298,386 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Floor & Decor by 13.1% in the 3rd quarter. FMR LLC now owns 4,605,699 shares of the company’s stock worth $416,816,000 after purchasing an additional 531,891 shares during the period.

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.