Citigroup Cuts Floor & Decor (FND) Price Target to $40.00

Floor & Decor (NYSE:FND) had its target price cut by investment analysts at Citigroup from $44.00 to $40.00 in a report released on Monday. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 17.15% from the stock’s current price.

Several other research firms also recently weighed in on FND. Wells Fargo & Co upgraded shares of Floor & Decor from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $42.00 to $40.00 in a research note on Friday, August 10th. Loop Capital upgraded shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 8th. Guggenheim assumed coverage on shares of Floor & Decor in a research note on Wednesday, August 8th. They issued a “buy” rating for the company. William Blair reiterated an “outperform” rating on shares of Floor & Decor in a research note on Thursday, August 23rd. Finally, Longbow Research assumed coverage on shares of Floor & Decor in a research note on Friday, August 24th. They issued a “buy” rating and a $50.00 target price for the company. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.56.

Shares of FND traded up $1.02 during trading hours on Monday, hitting $34.15. The company’s stock had a trading volume of 854,968 shares, compared to its average volume of 1,417,770. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 49.49, a PEG ratio of 1.39 and a beta of 0.16. The company has a quick ratio of 0.26, a current ratio of 1.50 and a debt-to-equity ratio of 0.25. Floor & Decor has a 52-week low of $24.01 and a 52-week high of $58.28.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, November 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $435.90 million during the quarter, compared to the consensus estimate of $428.88 million. Floor & Decor had a net margin of 8.80% and a return on equity of 19.82%. The company’s revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. On average, sell-side analysts expect that Floor & Decor will post 0.95 earnings per share for the current fiscal year.

In other news, major shareholder Corporate Opportunities F. Ares sold 7,744,108 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $37.00, for a total value of $286,531,996.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FND. Vanguard Group Inc. grew its position in shares of Floor & Decor by 24.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,502,767 shares of the company’s stock worth $135,848,000 after buying an additional 887,822 shares during the period. Morgan Stanley lifted its stake in shares of Floor & Decor by 274.3% in the 3rd quarter. Morgan Stanley now owns 412,970 shares of the company’s stock worth $12,460,000 after purchasing an additional 302,646 shares during the period. Penn Capital Management Co. Inc. lifted its stake in shares of Floor & Decor by 278.1% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 239,832 shares of the company’s stock worth $9,527,000 after purchasing an additional 176,405 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Floor & Decor by 1,506.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,357,762 shares of the company’s stock worth $40,964,000 after purchasing an additional 1,273,225 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Floor & Decor by 10.9% in the 3rd quarter. Teachers Advisors LLC now owns 52,704 shares of the company’s stock worth $1,590,000 after purchasing an additional 5,177 shares during the period.

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, 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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