Spyglass Capital Management LLC Has $55.59 Million Stock Position in Floor & Decor Holdings, Inc. (NYSE:FND)

Spyglass Capital Management LLC grew its holdings in Floor & Decor Holdings, Inc. (NYSE:FND) by 15.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 447,676 shares of the company’s stock after purchasing an additional 59,924 shares during the period. Floor & Decor comprises approximately 3.7% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Spyglass Capital Management LLC owned approximately 0.42% of Floor & Decor worth $55,588,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in Floor & Decor by 0.6% during the first quarter. Janus Henderson Group PLC now owns 56,783 shares of the company’s stock worth $7,359,000 after buying an additional 334 shares during the last quarter. Tidal Investments LLC bought a new stake in Floor & Decor in the first quarter valued at approximately $230,000. Cetera Investment Advisers lifted its position in shares of Floor & Decor by 263.8% in the first quarter. Cetera Investment Advisers now owns 27,426 shares of the company’s stock valued at $3,555,000 after buying an additional 19,888 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Floor & Decor during the 1st quarter worth approximately $637,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Floor & Decor by 18.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 35,600 shares of the company’s stock worth $4,615,000 after acquiring an additional 5,664 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FND shares. Piper Sandler reduced their price objective on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus upped their target price on Floor & Decor from $97.50 to $100.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Melius Research began coverage on Floor & Decor in a report on Monday, September 23rd. They set a “sell” rating and a $80.00 price target for the company. Wedbush reissued an “outperform” rating and set a $110.00 target price on shares of Floor & Decor in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on shares of Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Floor & Decor presently has a consensus rating of “Hold” and an average price target of $104.37.

Floor & Decor Stock Performance

Floor & Decor stock opened at $114.08 on Friday. The business has a 50 day moving average of $109.98 and a 200-day moving average of $107.99. The company has a market capitalization of $12.23 billion, a P/E ratio of 63.38, a P/E/G ratio of 14.90 and a beta of 1.83. Floor & Decor Holdings, Inc. has a 1 year low of $89.06 and a 1 year high of $135.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29.

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

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.