Traders Buy Large Volume of Floor & Decor Put Options (NYSE:FND)

Floor & Decor Holdings, Inc. (NYSE:FND) saw unusually large options trading on Thursday. Stock traders acquired 3,615 put options on the company. This is an increase of approximately 69% compared to the average daily volume of 2,133 put options.

Wall Street Analysts Forecast Growth

FND has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Floor & Decor from $119.00 to $118.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Telsey Advisory Group restated a “market perform” rating and issued a $95.00 price objective on shares of Floor & Decor in a report on Monday, November 11th. Melius Research initiated coverage on Floor & Decor in a research note on Monday, September 23rd. They issued a “sell” rating and a $80.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $110.00 target price on shares of Floor & Decor in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on Floor & Decor from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Floor & Decor by 221.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 483,752 shares of the company’s stock worth $60,067,000 after purchasing an additional 333,338 shares during the period. Conway Capital Management Inc. purchased a new position in Floor & Decor in the third quarter valued at approximately $1,090,000. Citigroup Inc. lifted its position in Floor & Decor by 27.2% during the third quarter. Citigroup Inc. now owns 77,568 shares of the company’s stock valued at $9,632,000 after buying an additional 16,569 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Floor & Decor by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 829,530 shares of the company’s stock valued at $103,003,000 after buying an additional 12,109 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Floor & Decor by 6.0% during the third quarter. Principal Financial Group Inc. now owns 538,555 shares of the company’s stock worth $66,872,000 after buying an additional 30,310 shares during the period.

Floor & Decor Trading Down 1.4 %

Shares of NYSE FND traded down $1.39 during midday trading on Thursday, reaching $100.94. 240,445 shares of the stock were exchanged, compared to its average volume of 1,477,375. The stock has a 50 day moving average price of $106.28 and a 200-day moving average price of $106.73. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $10.82 billion, a P/E ratio of 56.08, a P/E/G ratio of 14.75 and a beta of 1.83. Floor & Decor has a 52-week low of $89.06 and a 52-week high of $135.67.

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

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.