Wedbush Comments on Floor & Decor Holdings, Inc.’s Q3 2024 Earnings (NYSE:FND)

Floor & Decor Holdings, Inc. (NYSE:FND) – Stock analysts at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for shares of Floor & Decor in a research note issued to investors on Monday, July 22nd. Wedbush analyst S. Basham now anticipates that the company will earn $0.42 per share for the quarter, down from their prior estimate 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 Q3 2025 earnings at $0.55 EPS.

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

Several other brokerages also recently weighed in on FND. Citigroup lowered their target price on Floor & Decor from $109.00 to $104.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Telsey Advisory Group reduced their price target on Floor & Decor from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Wednesday. TD Cowen reduced their price target on Floor & Decor from $115.00 to $100.00 and set a “hold” rating for the company in a report on Friday, July 12th. Truist Financial reduced their price target on Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Mizuho reduced their price target on Floor & Decor from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.81.

Floor & Decor Trading Up 2.6 %

Shares of FND stock opened at $93.49 on Wednesday. The business’s 50 day moving average is $106.81 and its two-hundred day moving average is $111.88. Floor & Decor has a twelve month low of $76.30 and a twelve month high of $135.67. The company has a market capitalization of $10.00 billion, a P/E ratio of 45.16, a price-to-earnings-growth ratio of 9.91 and a beta of 1.73. The company has a current ratio of 1.17, a quick ratio of 0.21 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Floor & Decor

Several hedge funds have recently bought and sold shares of FND. Polen Capital Management LLC grew its position in shares of Floor & Decor by 59,133.5% in the fourth quarter. Polen Capital Management LLC now owns 25,184,312 shares of the company’s stock valued at $27,861,000 after purchasing an additional 25,141,795 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Floor & Decor by 20.4% in the first quarter. Capital Research Global Investors now owns 7,871,841 shares of the company’s stock valued at $1,020,348,000 after buying an additional 1,334,650 shares during the period. Capital World Investors lifted its stake in shares of Floor & Decor by 5.6% in the fourth quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock valued at $1,328,518,000 after buying an additional 627,256 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Floor & Decor by 3,355.8% in the fourth quarter. Principal Financial Group Inc. now owns 444,583 shares of the company’s stock valued at $49,598,000 after buying an additional 431,718 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Floor & Decor in the fourth quarter valued at about $42,114,000.

Insider Activity

In related news, CEO Thomas V. Taylor sold 34,199 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 168,386 shares of the company’s stock, valued at approximately $21,048,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Peter Starrett sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $118.24, for a total value of $591,200.00. Following the transaction, the director now directly owns 128,189 shares of the company’s stock, valued at $15,157,067.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas V. Taylor sold 34,199 shares of the company’s 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 transaction, the chief executive officer now directly owns 168,386 shares in the company, valued at $21,048,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,778 shares of company stock valued at $5,182,791. 2.10% of the stock is currently owned by insiders.

Floor & Decor Company Profile

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.