Piper Jaffray Companies Reaffirms Hold Rating for Floor & Decor (FND)

Piper Jaffray Companies restated their hold rating on shares of Floor & Decor (NYSE:FND) in a research report released on Tuesday morning. Piper Jaffray Companies currently has a $50.00 price objective on the stock.

FND has been the topic of several other research reports. JPMorgan Chase & Co. began coverage on Floor & Decor in a report on Monday, October 16th. They set an overweight rating and a $46.00 price objective on the stock. Zacks Investment Research upgraded Floor & Decor from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Tuesday, September 12th. BMO Capital Markets raised their price objective on Floor & Decor to $54.00 and gave the stock a market perform rating in a report on Tuesday. Stifel Nicolaus initiated coverage on Floor & Decor in a report on Wednesday, December 13th. They set a buy rating and a $51.00 price objective on the stock. Finally, Telsey Advisory Group upgraded Floor & Decor from a market perform rating to an outperform rating and lifted their target price for the company from $39.00 to $47.00 in a report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $45.13.

Floor & Decor (NYSE:FND) traded up $1.17 during mid-day trading on Tuesday, hitting $48.14. The stock had a trading volume of 667,355 shares, compared to its average volume of 878,878. Floor & Decor has a 1-year low of $29.37 and a 1-year high of $49.86. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $4,580.00 and a PE ratio of 65.95.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. Floor & Decor had a return on equity of 26.39% and a net margin of 5.62%. The business had revenue of $343.90 million for the quarter, compared to analysts’ expectations of $338.62 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue was up 26.8% on a year-over-year basis. sell-side analysts forecast that Floor & Decor will post 0.67 EPS for the current year.

In related news, Director George Vincent West sold 125,000 shares of Floor & Decor stock in a transaction on Monday, November 20th. The stock was sold at an average price of $34.92, for a total value of $4,365,000.00. Following the transaction, the director now owns 3,095 shares in the company, valued at $108,077.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Victor Christopherson sold 32,181 shares of Floor & Decor stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $41.20, for a total value of $1,325,857.20. Following the completion of the transaction, the senior vice president now owns 41,117 shares in the company, valued at approximately $1,694,020.40. The disclosure for this sale can be found here. Insiders sold 5,647,246 shares of company stock worth $201,948,218 in the last quarter.

Large investors have recently added to or reduced their stakes in the business. Ares Management LLC purchased a new position in Floor & Decor in the second quarter valued at about $2,049,069,000. Goldman Sachs Group Inc. purchased a new position in Floor & Decor in the second quarter valued at about $3,285,000. FS Capital Partners VI LLC purchased a new position in Floor & Decor in the second quarter valued at about $993,798,000. TimesSquare Capital Management LLC purchased a new position in Floor & Decor in the second quarter valued at about $5,889,000. Finally, State Street Corp purchased a new position in Floor & Decor in the second quarter valued at about $3,480,000. 93.49% of the stock is currently owned by institutional investors.

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About Floor & Decor

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).

Analyst Recommendations for Floor & Decor (NYSE:FND)

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