Norges Bank Invests $38.72 Million in Floor & Decor Holdings, Inc. (NYSE:FND)

Norges Bank acquired a new stake in Floor & Decor Holdings, Inc. (NYSE:FND) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 388,339 shares of the company’s stock, valued at approximately $38,717,000. Norges Bank owned about 0.36% of Floor & Decor at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Floor & Decor by 0.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock valued at $2,971,000 after purchasing an additional 100 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Floor & Decor by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 3,416 shares of the company’s stock valued at $341,000 after buying an additional 120 shares during the last quarter. Teacher Retirement System of Texas increased its position in Floor & Decor by 1.9% during the fourth quarter. Teacher Retirement System of Texas now owns 6,540 shares of the company’s stock worth $652,000 after buying an additional 122 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Floor & Decor by 2.0% in the third quarter. Tidal Investments LLC now owns 6,721 shares of the company’s stock worth $835,000 after acquiring an additional 130 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Floor & Decor by 4.9% in the fourth quarter. Sanctuary Advisors LLC now owns 2,858 shares of the company’s stock valued at $296,000 after acquiring an additional 133 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FND. Piper Sandler cut their target price on shares of Floor & Decor from $103.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Telsey Advisory Group reissued an “outperform” rating and set a $115.00 price objective on shares of Floor & Decor in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Floor & Decor from $103.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Evercore ISI reduced their price target on Floor & Decor from $95.00 to $90.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group downgraded Floor & Decor from a “neutral” rating to a “sell” rating and set a $79.00 price objective for the company. in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $103.56.

Floor & Decor Trading Up 1.8 %

NYSE:FND opened at $71.55 on Friday. Floor & Decor Holdings, Inc. has a 12 month low of $66.01 and a 12 month high of $126.74. The business’s 50-day moving average is $91.82 and its two-hundred day moving average is $101.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29. The firm has a market capitalization of $7.68 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 19.06 and a beta of 1.86.

Floor & Decor (NYSE:FND) last announced its earnings results on Thursday, February 20th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Floor & Decor had a return on equity of 9.80% and a net margin of 4.62%. Research analysts predict that Floor & Decor Holdings, Inc. will post 2 earnings per share for the current fiscal year.

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.