Floor & Decor (NYSE:FND) Stock Bumped Down to “Underperform” by Evercore

Evercore lowered shares of Floor & Decor (NYSE:FND) from an in-line rating to an underperform rating in a report issued on Friday morning, MarketBeat.com reports. Evercore currently has $45.00 target price on the stock, down from their prior target price of $55.00.

FND has been the topic of several other reports. Wall Street Zen upgraded shares of Floor & Decor from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group cut their price objective on shares of Floor & Decor from $59.00 to $47.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Telsey Advisory Group lowered Floor & Decor from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $68.00 to $50.00 in a research note on Friday, October 30th. JPMorgan Chase & Co. decreased their target price on Floor & Decor from $59.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Finally, Truist Financial lowered their target price on Floor & Decor from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $54.45.

Floor & Decor Trading Down 2.2%

Shares of NYSE:FND opened at $47.74 on Friday. The stock’s 50-day simple moving average is $47.53 and its two-hundred day simple moving average is $53.70. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 21.41 and a beta of 1.56. Floor & Decor has a 52-week low of $42.64 and a 52-week high of $77.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.44 and a current ratio of 1.32.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Floor & Decor had a net margin of 5.05% and a return on equity of 8.40%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. Analysts expect that Floor & Decor will post 1.92 EPS for the current year.

Insider Activity

In other news, EVP Ersan Sayman sold 21,428 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $52.00, for a total transaction of $1,114,256.00. Following the completion of the transaction, the executive vice president directly owned 71,676 shares in the company, valued at approximately $3,727,152. This represents a 23.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Floor & Decor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Madison Asset Management LLC purchased a new stake in shares of Floor & Decor in the second quarter worth about $78,941,000. Turtle Creek Asset Management Inc. increased its stake in Floor & Decor by 41.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 2,757,643 shares of the company’s stock worth $140,088,000 after acquiring an additional 811,910 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Floor & Decor by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,606,871 shares of the company’s stock valued at $132,424,000 after buying an additional 659,355 shares during the period. Marshall Wace LLP acquired a new position in Floor & Decor in the third quarter valued at about $25,131,000. Finally, Alua Capital Management LP purchased a new position in Floor & Decor during the first quarter worth about $22,393,000.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc. is a specialty retailer of hard-surface flooring and related products. Its assortment includes tile, natural stone, wood, laminate and vinyl flooring, along with installation materials, tools and decorative accessories. The company serves both professional flooring contractors and homeowners through warehouse-format stores and online sales. Many stores also offer design services and product displays to help customers plan residential and commercial projects. Founded in 2000 and headquartered in Atlanta, Georgia, Floor & Decor operates stores across the United States.