Floor & Decor (NYSE:FND) Shares Gap Down – Here’s What Happened

Floor & Decor Holdings, Inc. (NYSE:FND) shares gapped down before the market opened on Wednesday . The stock had previously closed at $108.72, but opened at $100.00. Floor & Decor shares last traded at $97.71, with a volume of 483,912 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $95.00 price objective on shares of Floor & Decor in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on Floor & Decor from $99.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Melius Research initiated coverage on Floor & Decor in a research note on Monday, September 23rd. They set a “sell” rating and a $80.00 price target for the company. Finally, Guggenheim lowered their price objective on shares of Floor & Decor from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Floor & Decor has an average rating of “Hold” and a consensus target price of $104.37.

Floor & Decor Stock Performance

The firm has a market capitalization of $10.83 billion, a PE ratio of 60.37, a price-to-earnings-growth ratio of 13.57 and a beta of 1.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 1.16. The business’s fifty day simple moving average is $111.54 and its 200-day simple moving average is $108.79.

Floor & Decor (NYSE:FND) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Floor & Decor had a net margin of 4.45% and a return on equity of 9.69%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.61 EPS. Floor & Decor’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Floor & Decor Holdings, Inc. will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Floor & Decor

Institutional investors have recently added to or reduced their stakes in the company. Chris Bulman Inc bought a new position in shares of Floor & Decor during the 2nd quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in Floor & Decor by 242.0% during 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 in the last quarter. J.Safra Asset Management Corp lifted its position in Floor & Decor by 630.5% during the second quarter. J.Safra Asset Management Corp now owns 431 shares of the company’s stock valued at $43,000 after purchasing an additional 372 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Floor & Decor by 36.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $70,000 after buying an additional 189 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Floor & Decor by 37.8% in the 3rd quarter. UMB Bank n.a. now owns 715 shares of the company’s stock worth $89,000 after buying an additional 196 shares during the last quarter.

Floor & Decor Company Profile

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.