Floor & Decor (NYSE:FND) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Floor & Decor (NYSE:FND) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Floor & Decor Holdings, Inc. is a multi-channel specialty retailer of hard surface flooring and related accessories which offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring. Floor & Decor Holdings, Inc. is headquartered in Smyrna, Georgia. “

FND has been the subject of several other research reports. Telsey Advisory Group set a $125.00 target price on Expedia Group and gave the stock a hold rating in a research note on Friday, May 3rd. Evercore ISI assumed coverage on Polarityte in a research note on Wednesday, March 20th. They set an outperform rating and a $26.00 target price for the company. Wells Fargo & Co raised their target price on Twitter from $33.00 to $40.00 and gave the stock a market perform rating in a research note on Wednesday, April 24th. Longbow Research reaffirmed a buy rating and set a $110.00 target price on shares of Visteon in a research note on Monday, April 15th. Finally, Loop Capital assumed coverage on Regis in a research note on Friday, April 5th. They set a buy rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Floor & Decor currently has an average rating of Hold and a consensus target price of $43.18.

Shares of FND stock opened at $42.38 on Tuesday. The firm has a market capitalization of $4.22 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 1.65 and a beta of 2.13. The company has a 50-day moving average of $39.29. The company has a current ratio of 1.32, a quick ratio of 0.23 and a debt-to-equity ratio of 1.33. Floor & Decor has a 1-year low of $23.30 and a 1-year high of $50.91.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $477.05 million during the quarter, compared to analysts’ expectations of $480.17 million. Floor & Decor had a return on equity of 18.19% and a net margin of 6.45%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts forecast that Floor & Decor will post 1.1 earnings per share for the current year.

In other news, CMO Lisa Laube sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $48.00, for a total value of $3,360,000.00. Following the transaction, the chief marketing officer now owns 111,087 shares in the company, valued at $5,332,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Vincent West sold 564,871 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $42.69, for a total value of $24,114,342.99. Following the completion of the transaction, the director now owns 150,000 shares in the company, valued at approximately $6,403,500. The disclosure for this sale can be found here. Insiders sold 1,266,646 shares of company stock worth $54,264,663 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of FND. California Public Employees Retirement System bought a new position in shares of Floor & Decor during the fourth quarter valued at $1,860,000. New York State Common Retirement Fund increased its stake in shares of Floor & Decor by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 329,495 shares of the company’s stock valued at $8,534,000 after buying an additional 17,734 shares in the last quarter. BlackRock Inc. increased its stake in shares of Floor & Decor by 13.4% in the fourth quarter. BlackRock Inc. now owns 2,463,489 shares of the company’s stock valued at $63,804,000 after buying an additional 291,235 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Floor & Decor by 38.9% in the fourth quarter. Bank of New York Mellon Corp now owns 219,730 shares of the company’s stock valued at $5,691,000 after buying an additional 61,591 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Floor & Decor by 38.5% in the fourth quarter. Citigroup Inc. now owns 4,901 shares of the company’s stock valued at $127,000 after buying an additional 1,363 shares in the last quarter.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer 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. It serves professional installers, commercial businesses, and do it yourself customers.

Featured Story: What is the Coverage Ratio?

Get a free copy of the Zacks research report on Floor & Decor (FND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations 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.