Floor & Decor Holdings, Inc. (NYSE:FND) Sees Significant Drop in Short Interest

Floor & Decor Holdings, Inc. (NYSE:FND) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 15,390,000 shares, a decline of 7.7% from the March 15th total of 16,670,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the short-interest ratio is presently 10.9 days.

Insider Buying and Selling

In other Floor & Decor news, Director Norman Axelrod sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.97, for a total value of $4,798,800.00. Following the transaction, the director now directly owns 226,080 shares of the company’s stock, valued at approximately $27,122,817.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Norman Axelrod sold 40,000 shares of Floor & Decor stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.97, for a total transaction of $4,798,800.00. Following the sale, the director now owns 226,080 shares of the company’s stock, valued at approximately $27,122,817.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Bryan Langley sold 5,865 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $119.86, for a total value of $702,978.90. Following the completion of the sale, the chief financial officer now directly owns 17,422 shares in the company, valued at approximately $2,088,200.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,867 shares of company stock worth $11,016,089. Insiders own 2.10% 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. New York State Teachers Retirement System acquired a new position in Floor & Decor during the fourth quarter worth about $4,161,000. Pacer Advisors Inc. acquired a new stake in shares of Floor & Decor in the fourth quarter valued at approximately $1,767,000. Kestra Advisory Services LLC grew its position in shares of Floor & Decor by 7.1% in the third quarter. Kestra Advisory Services LLC now owns 5,292 shares of the company’s stock valued at $479,000 after purchasing an additional 349 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Floor & Decor in the fourth quarter valued at approximately $1,284,000. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Floor & Decor by 28.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 122,211 shares of the company’s stock valued at $11,060,000 after purchasing an additional 26,732 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on FND shares. Sanford C. Bernstein downgraded shares of Floor & Decor from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, January 16th. TD Cowen began coverage on shares of Floor & Decor in a research note on Wednesday, April 10th. They set a “hold” rating and a $125.00 target price for the company. Wedbush boosted their target price on shares of Floor & Decor from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Truist Financial boosted their target price on shares of Floor & Decor from $102.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus lowered their target price on shares of Floor & Decor from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.19.

Floor & Decor Stock Performance

NYSE FND traded down $2.13 during trading hours on Tuesday, hitting $108.18. 1,504,908 shares of the stock were exchanged, compared to its average volume of 1,413,383. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 5.41 and a beta of 1.85. Floor & Decor has a 12-month low of $76.30 and a 12-month high of $135.67. The stock has a 50-day moving average of $118.88 and a 200 day moving average of $104.24. The company has a quick ratio of 0.18, a current ratio of 1.14 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.07. Floor & Decor had a net margin of 5.57% and a return on equity of 13.38%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Floor & Decor will post 1.92 earnings per share for the current year.

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.