Barclays Upgrades Floor & Decor (NYSE:FND) to “Equal Weight”

Floor & Decor (NYSE:FND) was upgraded by stock analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $91.00 price target on the stock, up from their prior price target of $75.00. Barclays‘s price target would indicate a potential downside of 5.17% from the company’s current price.

A number of other equities analysts have also recently issued reports on FND. Melius Research initiated coverage on Floor & Decor in a report on Monday, September 23rd. They set a “sell” rating and a $80.00 target price for the company. Wells Fargo & Company lifted their target price on Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of Floor & Decor in a research report on Friday, October 25th. Telsey Advisory Group reiterated a “market perform” rating and issued a $95.00 price objective on shares of Floor & Decor in a report on Monday, November 11th. Finally, Piper Sandler reduced their target price on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating for the company in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.21.

Floor & Decor Stock Performance

Shares of Floor & Decor stock opened at $95.96 on Wednesday. Floor & Decor has a 12 month low of $89.06 and a 12 month high of $135.67. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $10.29 billion, a PE ratio of 53.31, a PEG ratio of 14.43 and a beta of 1.84. The stock’s fifty day simple moving average is $105.00 and its 200 day simple moving average is $105.27.

Floor & Decor (NYSE:FND) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Floor & Decor had a return on equity of 9.69% and a net margin of 4.45%. Floor & Decor’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, research analysts predict that Floor & Decor will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in shares of Floor & Decor by 221.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 483,752 shares of the company’s stock valued at $60,067,000 after purchasing an additional 333,338 shares during the last quarter. Conway Capital Management Inc. acquired a new position in Floor & Decor in the 3rd quarter valued at $1,090,000. Sanctuary Advisors LLC increased its position in Floor & Decor by 7.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,725 shares of the company’s stock worth $338,000 after buying an additional 180 shares during the period. Citigroup Inc. lifted its holdings in shares of Floor & Decor by 27.2% during the third quarter. Citigroup Inc. now owns 77,568 shares of the company’s stock worth $9,632,000 after buying an additional 16,569 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Floor & Decor by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 829,530 shares of the company’s stock valued at $103,003,000 after acquiring an additional 12,109 shares during the period.

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.