Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $97.32, but opened at $91.05. Floor & Decor shares last traded at $90.43, with a volume of 687,707 shares.
The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Floor & Decor had a net margin of 6.99% and a return on equity of 19.35%. Floor & Decor’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share.
Analyst Upgrades and Downgrades
FND has been the topic of a number of recent research reports. Citigroup decreased their target price on Floor & Decor from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, March 3rd. Morgan Stanley raised their target price on Floor & Decor from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 24th. Robert W. Baird raised their target price on Floor & Decor from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Loop Capital raised their target price on Floor & Decor from $65.00 to $82.00 and gave the stock a “hold” rating in a report on Monday, February 27th. Finally, Gordon Haskett cut Floor & Decor from an “accumulate” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Friday, February 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.47.
Insider Activity
In other news, Director Richard L. Sullivan sold 1,734 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $91.94, for a total transaction of $159,423.96. Following the completion of the transaction, the director now owns 9,189 shares in the company, valued at $844,836.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP David Victor Christopherson sold 4,000 shares of Floor & Decor stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $92.00, for a total value of $368,000.00. Following the completion of the transaction, the executive vice president now owns 56,527 shares in the company, valued at $5,200,484. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Sullivan sold 1,734 shares of Floor & Decor stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $91.94, for a total value of $159,423.96. Following the completion of the transaction, the director now owns 9,189 shares of the company’s stock, valued at approximately $844,836.66. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wipfli Financial Advisors LLC purchased a new position in Floor & Decor in the third quarter worth about $25,000. PARK CIRCLE Co purchased a new position in Floor & Decor in the third quarter worth about $28,000. Proficio Capital Partners LLC purchased a new position in shares of Floor & Decor during the first quarter valued at approximately $28,000. Ahrens Investment Partners LLC purchased a new position in shares of Floor & Decor during the first quarter valued at approximately $29,000. Finally, FourThought Financial LLC boosted its position in shares of Floor & Decor by 47.9% during the third quarter. FourThought Financial LLC now owns 463 shares of the company’s stock valued at $33,000 after buying an additional 150 shares during the period.
Floor & Decor Stock Down 7.5 %
The company has a 50-day simple moving average of $94.09 and a 200-day simple moving average of $84.55. The firm has a market cap of $9.56 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.65 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.16.
Floor & Decor Company Profile
Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.