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

Shares of Floor & Decor Holdings, Inc. (NYSE:FND) gapped up prior to trading on Friday following a better than expected earnings announcement. 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 traded.

The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. Floor & Decor had a return on equity of 9.80% and a net margin of 4.62%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays upgraded 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. The Goldman Sachs Group lowered Floor & Decor from a “neutral” rating to a “sell” rating and set a $79.00 price target for the company. in a research report on Thursday, January 30th. Mizuho boosted their price target on Floor & Decor from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on Floor & Decor from $97.50 to $100.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Piper Sandler reduced their price target on Floor & Decor from $118.00 to $103.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.16.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FND. Blue Trust Inc. increased its holdings in shares of Floor & Decor by 242.0% in the third quarter. Blue Trust Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 196 shares during the period. Quarry LP acquired a new position in shares of Floor & Decor in the third quarter valued at about $34,000. Huntington National Bank increased its holdings in shares of Floor & Decor by 120.5% in the fourth quarter. Huntington National Bank now owns 344 shares of the company’s stock valued at $34,000 after purchasing an additional 188 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Floor & Decor in the fourth quarter worth about $35,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Floor & Decor in the fourth quarter worth about $49,000.

Floor & Decor Stock Up 1.5 %

The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.09. The stock has a market cap of $10.11 billion, a PE ratio of 49.61, a P/E/G ratio of 19.06 and a beta of 1.83. The business has a 50 day moving average price of $99.62 and a 200 day moving average price of $105.99.

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.