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

Floor & Decor Holdings, Inc. (NYSE:FND)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. 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.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FND. Wells Fargo & Company increased their price objective on Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Gordon Haskett raised Floor & Decor from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Friday. Wedbush lowered Floor & Decor from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $100.00 in a research note on Friday, February 14th. Mizuho raised their price target on Floor & Decor from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Piper Sandler dropped their price target on Floor & Decor from $118.00 to $103.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $106.16.

Institutional Investors Weigh In On Floor & Decor

Several institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its position in shares of Floor & Decor by 0.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock valued at $2,971,000 after buying an additional 100 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Floor & Decor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 3,106 shares of the company’s stock valued at $386,000 after buying an additional 110 shares during the last quarter. Advisory Research Inc. boosted its position in shares of Floor & Decor by 0.7% during the fourth quarter. Advisory Research Inc. now owns 17,271 shares of the company’s stock valued at $1,722,000 after buying an additional 115 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Floor & Decor by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 3,416 shares of the company’s stock valued at $341,000 after buying an additional 120 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Floor & Decor by 1.9% in the fourth quarter. Teacher Retirement System of Texas now owns 6,540 shares of the company’s stock worth $652,000 after purchasing an additional 122 shares during the last quarter.

Floor & Decor Price Performance

The firm has a 50-day simple moving average of $99.62 and a 200-day simple moving average of $105.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29. The firm has a market capitalization of $10.11 billion, a PE ratio of 49.61, a PEG ratio of 19.06 and a beta of 1.83.

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.