Floor & Decor (NYSE: FND) surges after better-than-expected profit


Floor & Decor Holdings, Inc.’s share price rose. (NYSE: FND – Get Rating) before trading on Friday after a better-than-expected earnings announcement. The stock had previously closed at $81.86, but opened at $88.30. Floor & Decor shares were last traded at $90.21, with a volume of 9,969 shares.

The company reported earnings of $0.76 per share (EPS) for the quarter, topping analysts’ estimates of $0.73 by $0.03. Floor & Decor’s net profit margin was 7.57%, and the return on equity was 20.21%. The company’s revenue was $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company reported earnings of $0.73 per share. The company’s quarterly revenue increased 26.7% compared to the same quarter last year.

Analysts set new price targets

A number of research analysts have recently focused on the FND stock. Gordon Haskett lowered shares of Floor & Decor from a “buy” rating to a “accumulating” rating in a research note on Friday, May 6th. Piper Sandler cut shares of Floor & Decor from an “overweight” rating to a “neutral” rating and lowered its share price target from $103.00 to $75.00 in a research note on Friday, July 29th. MKM Partners began covering shares of Floor & Decor in a research note on Thursday, June 23. They set a “neutral” rating and a $65.00 price target for the company. Robert W. Bird lowered his price target for Floor & Decor shares from $130.00 to $110.00 in a research report on Monday, May 2nd. Finally, Morgan Stanley lowered its price target for Floor & Decor shares from $120.00 to $105.00 and assigned an “equal” rating to the stock in a research report on Wednesday, July 20. Five equities research analysts have rated the stock with a hold rating, and ten have issued a buy rating to the company. According to MarketBeat data, Floor & Decor has a consensus rating of “Moderate Buy” and an aggregate target price of $105.07.

Institutional investors weigh in on the floor and decor

Several hedge funds and other institutional investors have recently added or reduced their stakes in FND. CIBC Asset Management Inc boosted its position in shares of Floor & Decor by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 4,348 shares of the company’s stock, valued at $565,000, after purchasing an additional 125 shares during the last quarter. Banco Santander SA bought a new stake in shares of Floor & Decor in the 4th quarter valued at approximately $1,863,000. MML Investors Services LLC boosted its position in shares of Floor & Decor by 10.2% in the fourth quarter. MML Investors Services LLC now owns 20,000 shares of the company’s stock valued at $2,600,000 after purchasing an additional 1,853 shares during the last quarter. FDx Advisors Inc. Its position in shares of Floor & Decor increased by 171.4% in the first quarter. FDx Advisors Inc. Now, 7,863 shares of the company’s stock are valued at $637,000 after purchasing an additional 4,966 shares during the last quarter. Finally, Baskin Financial Services Inc boosted its stake in Floor & Decor by 0.8% in the first quarter. Baskin Financial Services Inc. owns. Now 240,795 shares of the company’s stock are valued at $19,504,000 after purchasing an additional 1,966 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Flooring and decoration price performance

The company’s 50-day moving average is $72.97 and the 200-day moving average is $83.83. The company’s debt-to-equity ratio is 0.14, the quick ratio is 0.16 and the current ratio is 1.21. The company has a market capitalization of $9.84 billion, a price-earnings ratio of 36.02, a price-earnings ratio of 1.22 and a beta of 1.85.

About the flooring and decoration company

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Floor & Decor Holdings, Inc. operates as a specialized multi-channel retailer and commercial flooring distributor of hard surface floors and related accessories. The company’s stores offer tile, wood, laminate, vinyl and natural stone flooring products, as well as decorative and installation accessories.

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