Wedbush Downgrades Floor & Decor (NYSE:FND) to Neutral

Floor & Decor (NYSE:FND) was downgraded by stock analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports. They currently have a $100.00 target price on the stock, down from their previous target price of $110.00. Wedbush’s price target suggests a potential upside of 2.52% from the stock’s current price. Wedbush also issued estimates for Floor & Decor’s Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $1.72 EPS, FY2025 earnings at $1.87 EPS, FY2026 earnings at $2.45 EPS and FY2027 earnings at $3.13 EPS.

A number of other brokerages have also recently weighed in on FND. Telsey Advisory Group upgraded Floor & Decor from a “market perform” rating to an “outperform” rating and upped their price target for the company from $95.00 to $115.00 in a research report on Friday. Barclays raised shares of Floor & Decor from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $75.00 to $91.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Floor & Decor from $103.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Piper Sandler decreased their price objective on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Finally, Stifel Nicolaus raised their price objective on shares of Floor & Decor from $97.50 to $100.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.22.

Floor & Decor Stock Down 0.3 %

NYSE FND opened at $97.54 on Friday. Floor & Decor has a 1-year low of $89.06 and a 1-year high of $135.67. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 54.19, a PEG ratio of 11.51 and a beta of 1.83. The stock’s 50 day moving average is $101.25 and its two-hundred day moving average is $106.03. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FND. West Paces Advisors Inc. raised its stake in shares of Floor & Decor by 5.9% during the fourth quarter. West Paces Advisors Inc. now owns 4,025 shares of the company’s stock worth $401,000 after buying an additional 225 shares during the last quarter. Cypress Advisory Group LLC bought a new stake in shares of Floor & Decor during the 4th quarter valued at $459,000. Davidson Kahn Capital Management LLC acquired a new position in shares of Floor & Decor in the 4th quarter valued at $2,443,000. Freestone Grove Partners LP bought a new position in shares of Floor & Decor in the 4th quarter worth $7,644,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Floor & Decor during the fourth quarter worth $283,000.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.