Wedbush Research Analysts Reduce Earnings Estimates for Floor & Decor Holdings, Inc. (NYSE:FND)

Floor & Decor Holdings, Inc. (NYSE:FND) – Analysts at Wedbush decreased their Q2 2024 earnings per share estimates for Floor & Decor in a research report issued on Monday, July 22nd. Wedbush analyst S. Basham now forecasts that the company will post earnings per share of $0.47 for the quarter, down from their prior forecast of $0.51. Wedbush currently has a “Outperform” rating and a $110.00 target price on the stock. The consensus estimate for Floor & Decor’s current full-year earnings is $1.84 per share. Wedbush also issued estimates for Floor & Decor’s Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.70 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.45 EPS, FY2025 earnings at $2.10 EPS and FY2026 earnings at $2.69 EPS.

Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. Floor & Decor had a return on equity of 11.80% and a net margin of 5.11%. Floor & Decor’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share.

A number of other analysts also recently commented on the company. Mizuho decreased their price target on Floor & Decor from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. TD Cowen decreased their price target on Floor & Decor from $115.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Evercore ISI decreased their target price 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. Robert W. Baird reissued an “outperform” rating and issued a $127.00 target price on shares of Floor & Decor in a research report on Tuesday, July 2nd. Finally, UBS Group decreased their target price on Floor & Decor from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Floor & Decor presently has a consensus rating of “Hold” and an average price target of $106.81.

Floor & Decor Stock Performance

Shares of FND opened at $91.08 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.21 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 9.91 and a beta of 1.73. The stock has a 50 day moving average of $107.32 and a 200 day moving average of $112.01. Floor & Decor has a 12 month low of $76.30 and a 12 month high of $135.67.

Institutional Investors Weigh In On Floor & Decor

Several hedge funds have recently added to or reduced their stakes in FND. SG Americas Securities LLC lifted its stake in Floor & Decor by 111.1% during the fourth quarter. SG Americas Securities LLC now owns 7,421 shares of the company’s stock worth $828,000 after purchasing an additional 3,906 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Floor & Decor during the fourth quarter worth about $1,767,000. Schechter Investment Advisors LLC bought a new stake in Floor & Decor during the fourth quarter worth about $497,000. Clear Harbor Asset Management LLC lifted its stake in shares of Floor & Decor by 4.1% in the 4th quarter. Clear Harbor Asset Management LLC now owns 6,043 shares of the company’s stock valued at $674,000 after acquiring an additional 240 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Floor & Decor in the 4th quarter valued at about $1,284,000.

Insider Activity at Floor & Decor

In related news, CEO Thomas V. Taylor sold 34,199 shares of Floor & Decor stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $125.00, for a total transaction of $4,274,875.00. Following the completion of the sale, the chief executive officer now owns 168,386 shares of the company’s stock, valued at $21,048,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Floor & Decor news, Director Peter Starrett sold 5,000 shares of Floor & Decor stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $118.24, for a total transaction of $591,200.00. Following the completion of the sale, the director now owns 128,189 shares of the company’s stock, valued at $15,157,067.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas V. Taylor sold 34,199 shares of Floor & Decor stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $125.00, for a total value of $4,274,875.00. Following the sale, the chief executive officer now directly owns 168,386 shares of the company’s stock, valued at approximately $21,048,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,778 shares of company stock valued at $5,182,791. Company insiders own 2.10% of the company’s stock.

About Floor & Decor

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.