Floor & Decor (NYSE:FND) Shares Gap Up on Strong Earnings

Floor & Decor Holdings, Inc. (NYSE:FND)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $92.84, but opened at $103.82. Floor & Decor shares last traded at $94.72, with a volume of 1,132,245 shares.

The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Floor & Decor had a return on equity of 9.69% and a net margin of 4.45%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FND shares. Mizuho boosted their price target on Floor & Decor from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Gordon Haskett upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Friday. Wells Fargo & Company boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Floor & Decor from $103.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Barclays upgraded Floor & Decor from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $75.00 to $91.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $106.16.

Institutional Investors Weigh In On Floor & Decor

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Floor & Decor in the 3rd quarter worth about $34,000. Blue Trust Inc. lifted its stake in Floor & Decor by 242.0% in the 3rd quarter. Blue Trust Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 196 shares in the last quarter. Huntington National Bank lifted its stake in Floor & Decor by 120.5% in the 4th quarter. Huntington National Bank now owns 344 shares of the company’s stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Floor & Decor in the 4th quarter worth about $35,000. Finally, Bank of Jackson Hole Trust acquired a new position in Floor & Decor in the 4th quarter worth about $49,000.

Floor & Decor Stock Performance

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 firm has a 50-day simple moving average of $99.62 and a two-hundred day simple moving average of $105.93. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 52.36, a price-to-earnings-growth ratio of 19.57 and a beta of 1.83.

About Floor & Decor

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.