Melius Research Begins Coverage on Floor & Decor (NYSE:FND)

Melius Research initiated coverage on shares of Floor & Decor (NYSE:FND) in a research note issued to investors on Monday, Benzinga reports. The brokerage set a “sell” rating and a $80.00 price target on the stock. Melius Research’s price target points to a potential downside of 33.16% from the company’s current price.

A number of other research firms have also commented on FND. Robert W. Baird reduced their price objective on shares of Floor & Decor from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Piper Sandler dropped their price target on Floor & Decor from $115.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Evercore ISI reduced their target price on Floor & Decor from $120.00 to $100.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Wells Fargo & Company decreased their price objective on Floor & Decor from $125.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Finally, Telsey Advisory Group reduced their price objective on shares of Floor & Decor from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.65.

Floor & Decor Price Performance

Shares of FND stock traded up $0.06 on Monday, reaching $119.68. The company had a trading volume of 354,147 shares, compared to its average volume of 1,443,679. The business’s 50-day moving average is $103.88 and its 200 day moving average is $110.90. Floor & Decor has a one year low of $76.30 and a one year high of $135.67. The company has a quick ratio of 0.27, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $12.81 billion, a PE ratio of 57.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.79.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Floor & Decor had a return on equity of 10.69% and a net margin of 4.78%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that Floor & Decor will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Floor & Decor

Several hedge funds have recently added to or reduced their stakes in FND. Norges Bank bought a new stake in shares of Floor & Decor in the fourth quarter worth $39,315,000. PNC Financial Services Group Inc. boosted its stake in Floor & Decor by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,709 shares of the company’s stock worth $1,195,000 after purchasing an additional 121 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Floor & Decor by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,141 shares of the company’s stock valued at $574,000 after buying an additional 120 shares in the last quarter. Stifel Financial Corp raised its position in shares of Floor & Decor by 1.1% during the fourth quarter. Stifel Financial Corp now owns 128,769 shares of the company’s stock valued at $14,365,000 after buying an additional 1,361 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Floor & Decor in the fourth quarter worth $611,000.

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.