Wealth Alliance Trims Stock Holdings in Floor & Decor Holdings, Inc. (NYSE:FND)

Wealth Alliance lowered its holdings in Floor & Decor Holdings, Inc. (NYSE:FND) by 17.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,226 shares of the company’s stock after selling 481 shares during the quarter. Wealth Alliance’s holdings in Floor & Decor were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FND. Polen Capital Management LLC raised its holdings in Floor & Decor by 59,133.5% during the 4th quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock valued at $27,861,000 after acquiring an additional 25,141,795 shares during the period. Capital Research Global Investors raised its stake in shares of Floor & Decor by 20.4% during the 1st quarter. Capital Research Global Investors now owns 7,871,841 shares of the company’s stock valued at $1,020,348,000 after purchasing an additional 1,334,650 shares during the period. Capital World Investors lifted its holdings in Floor & Decor by 5.6% during the 4th quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock worth $1,328,518,000 after purchasing an additional 627,256 shares in the last quarter. Norges Bank bought a new position in Floor & Decor in the 4th quarter worth about $39,315,000. Finally, Vanguard Group Inc. grew its holdings in Floor & Decor by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,658,747 shares of the company’s stock valued at $1,077,530,000 after buying an additional 300,506 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on FND. Telsey Advisory Group cut their price objective on shares of Floor & Decor from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Evercore ISI reduced their price target on shares of Floor & Decor from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Robert W. Baird lowered their price objective on Floor & Decor from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Piper Sandler reduced their target price on Floor & Decor from $115.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup lowered their price target on Floor & Decor from $109.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.84.

Floor & Decor Price Performance

Shares of Floor & Decor stock opened at $119.62 on Friday. The firm has a market cap of $12.80 billion, a PE ratio of 57.79, a price-to-earnings-growth ratio of 2.19 and a beta of 1.79. The company’s fifty day simple moving average is $103.88 and its two-hundred day simple moving average is $111.07. The company has a quick ratio of 0.27, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. Floor & Decor Holdings, Inc. has a 12-month low of $76.30 and a 12-month high of $135.67.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, August 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Floor & Decor had a return on equity of 10.69% and a net margin of 4.78%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, equities analysts expect that Floor & Decor Holdings, Inc. will post 1.67 EPS for the current year.

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.