Floor & Decor Holdings, Inc. (NYSE:FND) records significant decline in short interest

Floor & Decor Holdings, Inc. (NYSE:FND – Free Report) saw a significant decline in short interest in July. As of July 31, there were shorts totaling 11,280,000 shares, a 16.3% decrease from the total of 13,480,000 shares on July 15. Based on an average daily trading volume of 1,690,000 shares, the short ratio is currently 6.7 days.

Analysts set new price targets

Several research analysts have issued reports on the company. Evercore ISI decreased their price target on Floor & Decor from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Guggenheim decreased their price target on shares of Floor & Decor from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird decreased their price target on shares of Floor & Decor from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Wells Fargo & Company decreased their price target on shares of Floor & Decor from $125.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, July 26. Finally, UBS Group decreased their price target on shares of Floor & Decor from $135.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, May 3. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, and five have given a buy rating. According to data from MarketBeat, Floor & Decor has an average rating of “hold” and an average price target of $104.37.

Check out our latest research report on floors and decor

Floor coverings and decorations with an increase of 2.4%

Shares of FND opened at $105.56 on Friday. Floor & Decor has a 1-year low of $76.30 and a 1-year high of $135.67. The company’s 50-day moving average is $101.73 and its 200-day moving average is $111.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 0.21. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 51.00, a PEG ratio of 10.13 and a beta of 1.74.

Floor & Decor (NYSE:FND – Get Free Report) last released its earnings results on Thursday, August 1. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Floor & Decor had a net margin of 4.78% and a return on equity of 10.85%. Floor & Decor’s revenue declined 0.2% year-over-year. In the same quarter last year, the company reported earnings per share of $0.66. As a group, analysts expect Floor & Decor to report earnings per share of $1.81 for the current year.

Insider activity

In other news, CEO Thomas V. Taylor sold 34,199 shares of the company’s stock on Wednesday, June 12. The shares were sold at an average price of $125.00, for a total transaction of $4,274,875.00. Following the completion of the sale, the CEO now directly owns 168,386 shares of the company’s stock, valued at $21,048,250. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Institutional trade in floor coverings and decor

Several institutional investors and hedge funds have recently changed their holdings in FND. Riverview Trust Co acquired a new stake in Floor & Decor in the first quarter valued at about $26,000. Chris Bulman Inc acquired a new stake in shares of Floor & Decor in the second quarter valued at $30,000. Rise Advisors LLC acquired a new stake in shares of Floor & Decor in the first quarter valued at $39,000. J.Safra Asset Management Corp increased its stake in Floor & Decor by 630.5% in the second quarter. J.Safra Asset Management Corp now owns 431 shares of the company’s stock valued at $43,000 after acquiring an additional 372 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Floor & Decor by 97.1% in the first quarter. Global Retirement Partners LLC now owns 339 shares of the company’s stock valued at $44,000 after acquiring an additional 167 shares in the last quarter.

Floor & Decor Company Profile

(Get free report)

Floor & Decor Holdings, Inc., together with its subsidiaries, is a multi-channel hard flooring specialty retailer and accessory retailer and seller of commercial flooring 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. It also offers vanities, shower doors, bathroom accessories, faucets, sinks, custom countertops, bathroom mirrors and bathroom lighting.

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