Floor & Decor Holdings, Inc. (NYSE:FND) Sees Large Drop in Short Interest

Floor & Decor Holdings, Inc. (NYSE:FND) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 10,240,000 shares, a drop of 7.2% from the December 15th total of 11,030,000 shares. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is currently 6.3 days.

Floor & Decor Price Performance

NYSE FND traded up $2.66 during trading hours on Friday, hitting $99.81. The company had a trading volume of 1,785,012 shares, compared to its average volume of 1,162,091. The firm has a 50 day simple moving average of $104.13 and a 200 day simple moving average of $105.07. Floor & Decor has a 52 week low of $89.06 and a 52 week high of $135.67. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 10.51 and a beta of 1.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 1.16.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on FND. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Floor & Decor in a research note on Friday, October 25th. Mizuho upped their target price on Floor & Decor from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler dropped their price objective on shares of Floor & Decor from $119.00 to $118.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Melius Research initiated coverage on shares of Floor & Decor in a research report on Monday, September 23rd. They set a “sell” rating and a $80.00 target price for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $95.00 price target on shares of Floor & Decor in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.67.

Hedge Funds Weigh In On Floor & Decor

A number of institutional investors have recently made changes to their positions in FND. FMR LLC boosted its stake in Floor & Decor by 34.7% in the third quarter. FMR LLC now owns 5,015,871 shares of the company’s stock worth $622,821,000 after buying an additional 1,291,214 shares in the last quarter. State Street Corp grew its holdings in shares of Floor & Decor by 6.3% during the 3rd quarter. State Street Corp now owns 3,769,808 shares of the company’s stock valued at $468,097,000 after purchasing an additional 222,980 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Floor & Decor by 3.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,252,815 shares of the company’s stock valued at $279,732,000 after purchasing an additional 85,299 shares during the last quarter. Geode Capital Management LLC raised its position in Floor & Decor by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,790,280 shares of the company’s stock worth $222,357,000 after purchasing an additional 24,509 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Floor & Decor by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 1,617,658 shares of the company’s stock worth $200,865,000 after purchasing an additional 223,332 shares during the last quarter.

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.