Floor & Decor (NYSE:FND) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Floor & Decor (NYSE:FND) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Floor & Decor Holdings, Inc. is a multi-channel specialty retailer of hard surface flooring and related accessories which offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring. Floor & Decor Holdings, Inc. is headquartered in Smyrna, Georgia. “

A number of other analysts have also issued reports on FND. UBS Group boosted their price target on W. R. Berkley from $53.00 to $56.00 and gave the company a sell rating in a report on Wednesday, April 24th. Telsey Advisory Group set a $125.00 price target on Expedia Group and gave the company a hold rating in a report on Friday, May 3rd. Longbow Research reiterated a buy rating and issued a $110.00 price target on shares of Visteon in a report on Monday, April 15th. Wedbush reiterated an outperform rating on shares of Alphabet in a report on Thursday, April 25th. Finally, Loop Capital started coverage on Regis in a report on Friday, April 5th. They issued a buy rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $43.18.

Shares of NYSE FND opened at $43.69 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 1.65 and a beta of 2.13. The company has a 50 day moving average price of $39.42. Floor & Decor has a 52-week low of $23.30 and a 52-week high of $50.91.

Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $477.05 million during the quarter, compared to analyst estimates of $480.17 million. Floor & Decor had a return on equity of 18.19% and a net margin of 6.45%. Floor & Decor’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts anticipate that Floor & Decor will post 1.1 earnings per share for the current year.

In other news, CMO Lisa Laube sold 70,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $48.00, for a total transaction of $3,360,000.00. Following the transaction, the chief marketing officer now directly owns 111,087 shares of the company’s stock, valued at $5,332,176. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Trevor Lang sold 40,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $38.88, for a total value of $1,555,200.00. Following the transaction, the chief financial officer now directly owns 178,669 shares in the company, valued at $6,946,650.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,266,646 shares of company stock worth $54,264,663. Insiders own 7.00% of the company’s stock.

Several hedge funds have recently modified their holdings of FND. LGT Capital Partners LTD. boosted its holdings in Floor & Decor by 21.0% in the second quarter. LGT Capital Partners LTD. now owns 75,000 shares of the company’s stock valued at $3,142,000 after purchasing an additional 13,000 shares during the last quarter. Scout Investments Inc. boosted its holdings in Floor & Decor by 47.8% in the second quarter. Scout Investments Inc. now owns 1,080,811 shares of the company’s stock valued at $45,286,000 after purchasing an additional 349,688 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Floor & Decor by 56.7% in the first quarter. Centaurus Financial Inc. now owns 10,734 shares of the company’s stock valued at $260,000 after purchasing an additional 3,885 shares during the last quarter. First Trust Advisors LP purchased a new stake in Floor & Decor in the first quarter valued at $2,060,000. Finally, FMR LLC boosted its holdings in Floor & Decor by 44.3% in the first quarter. FMR LLC now owns 3,784,344 shares of the company’s stock valued at $155,991,000 after purchasing an additional 1,161,156 shares during the last quarter.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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