Echo Street Capital Management LLC Buys Shares of 22,019 Floor & Decor Holdings, Inc. (NYSE:FND)

Echo Street Capital Management LLC bought a new stake in shares of Floor & Decor Holdings, Inc. (NYSE:FNDGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,019 shares of the company’s stock, valued at approximately $1,784,000.

A number of other hedge funds have also added to or reduced their stakes in FND. Dimensional Fund Advisors LP raised its stake in Floor & Decor by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 616,923 shares of the company’s stock valued at $80,205,000 after buying an additional 20,685 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Floor & Decor by 4.5% during the 4th quarter. HighTower Advisors LLC now owns 10,210 shares of the company’s stock valued at $1,331,000 after acquiring an additional 438 shares during the period. Teacher Retirement System of Texas grew its position in shares of Floor & Decor by 20.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,311 shares of the company’s stock valued at $2,641,000 after acquiring an additional 3,489 shares during the period. Rafferty Asset Management LLC grew its position in shares of Floor & Decor by 2.0% during the 4th quarter. Rafferty Asset Management LLC now owns 34,555 shares of the company’s stock valued at $4,492,000 after acquiring an additional 691 shares during the period. Finally, Confluence Wealth Services Inc. bought a new stake in shares of Floor & Decor during the 4th quarter valued at $30,000.

Floor & Decor Stock Up 3.0 %

FND opened at $84.62 on Friday. The firm has a 50-day simple moving average of $81.64 and a two-hundred day simple moving average of $80.92. Floor & Decor Holdings, Inc. has a 52 week low of $59.91 and a 52 week high of $145.89. The company has a market capitalization of $8.97 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.82. The company has a quick ratio of 0.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.18.

Floor & Decor (NYSE:FNDGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Floor & Decor had a net margin of 7.09% and a return on equity of 19.25%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. Analysts forecast that Floor & Decor Holdings, Inc. will post 2.71 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Steven Alan Denny sold 6,028 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $95.10, for a total transaction of $573,262.80. Following the sale, the executive vice president now directly owns 4,477 shares in the company, valued at approximately $425,762.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Floor & Decor from a “buy” rating to a “neutral” rating and cut their price objective for the company from $109.00 to $64.00 in a research report on Monday, June 27th. Wells Fargo & Company dropped their target price on shares of Floor & Decor from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, June 8th. William Blair reaffirmed an “outperform” rating on shares of Floor & Decor in a report on Thursday, August 11th. Citigroup upped their target price on shares of Floor & Decor to $112.00 in a report on Monday, August 15th. Finally, MKM Partners initiated coverage on shares of Floor & Decor in a report on Thursday, June 23rd. They issued a “neutral” rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Floor & Decor has a consensus rating of “Moderate Buy” and a consensus target price of $105.14.

Floor & Decor Company Profile

(Get Rating)

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor 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.

Further Reading

Want to see what other hedge funds are holding FND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Floor & Decor Holdings, Inc. (NYSE:FNDGet Rating).

Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

Receive News & Ratings for Floor & Decor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Floor & Decor and related companies with MarketBeat.com's FREE daily email newsletter.