Floor & Decor Holdings, Inc. (NYSE:FND) Sees Significant Drop in Short Interest

Floor & Decor Holdings, Inc. (NYSE:FND) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 11,280,000 shares, a decrease of 16.3% from the July 15th total of 13,480,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 6.7 days.

Insiders Place Their Bets

In other news, 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 transaction of $4,274,875.00. Following the completion of the sale, the chief executive officer now directly owns 168,386 shares in the company, valued at approximately $21,048,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Floor & Decor

Several institutional investors have recently modified their holdings of FND. Riverview Trust Co acquired a new stake in Floor & Decor during the 1st quarter worth approximately $26,000. Chris Bulman Inc acquired a new stake in shares of Floor & Decor during the second quarter worth $30,000. Rise Advisors LLC acquired a new stake in shares of Floor & Decor during the first quarter worth $39,000. J.Safra Asset Management Corp lifted its position in Floor & Decor by 630.5% in the 2nd 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 holdings in Floor & Decor by 97.1% during the 1st quarter. Global Retirement Partners LLC now owns 339 shares of the company’s stock worth $44,000 after purchasing an additional 167 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FND shares. JPMorgan Chase & Co. reduced their price objective on shares of Floor & Decor from $99.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Guggenheim decreased their price target on Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Citigroup cut their price objective 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. Truist Financial decreased their target price on Floor & Decor from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Mizuho dropped their price target on shares of Floor & Decor from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.37.

Floor & Decor Price Performance

Shares of Floor & Decor stock traded down $0.35 during trading on Friday, reaching $105.17. The company’s stock had a trading volume of 1,023,413 shares, compared to its average volume of 1,518,532. The stock has a 50-day moving average price of $101.50 and a two-hundred day moving average price of $111.09. The stock has a market capitalization of $11.25 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 10.13 and a beta of 1.74. The company has a current ratio of 1.17, a quick ratio of 0.21 and a debt-to-equity ratio of 0.10. Floor & Decor has a one year low of $76.30 and a one year high of $135.67.

Floor & Decor (NYSE:FND) last announced its earnings results on Thursday, August 1st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Floor & Decor had a net margin of 4.78% and a return on equity of 10.85%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Floor & Decor will post 1.81 EPS for the current fiscal year.

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.