Floor & Decor Sees Unusually Large Options Volume (FND)

Floor & Decor Holdings Inc (NYSE:FND) saw unusually large options trading activity on Wednesday. Stock investors bought 975 put options on the company. This represents an increase of approximately 1,400% compared to the typical daily volume of 65 put options.

NYSE:FND traded down $0.41 during mid-day trading on Friday, hitting $40.90. 1,213,500 shares of the company’s stock were exchanged, compared to its average volume of 1,260,839. Floor & Decor has a one year low of $23.30 and a one year high of $55.86. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.32 and a quick ratio of 0.23. The firm has a market capitalization of $4.17 billion, a P/E ratio of 42.16, a PEG ratio of 1.62 and a beta of 1.78.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $477.05 million for the quarter, compared to analyst estimates of $480.17 million. Floor & Decor had a net margin of 6.45% and a return on equity of 18.19%. Floor & Decor’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities research analysts expect that Floor & Decor will post 1.11 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on FND shares. Bank of America lowered shares of Floor & Decor from a “buy” rating to an “underperform” rating and set a $29.00 price target on the stock. in a report on Friday, February 1st. Robert W. Baird started coverage on shares of Floor & Decor in a research note on Monday, March 4th. They set an “outperform” rating and a $48.00 target price on the stock. Wells Fargo & Co reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $45.00) on shares of Floor & Decor in a research note on Wednesday, April 24th. Morgan Stanley set a $36.00 target price on shares of Floor & Decor and gave the company a “hold” rating in a research note on Friday, February 22nd. Finally, Stephens started coverage on shares of Floor & Decor in a research note on Tuesday, April 23rd. They set a “weight” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $43.08.

In other Floor & Decor news, major shareholder Corporate Opportunities F. Ares sold 6,673,401 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $37.50, for a total value of $250,252,537.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Lisa Laube sold 70,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $48.00, for a total transaction of $3,360,000.00. Following the completion of the sale, the chief marketing officer now directly owns 111,087 shares in the company, valued at approximately $5,332,176. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,668,123 shares of company stock worth $292,988,420. 7.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of FND. Bank of New York Mellon Corp raised its holdings in Floor & Decor by 6.7% in the third quarter. Bank of New York Mellon Corp now owns 158,139 shares of the company’s stock worth $4,770,000 after buying an additional 9,955 shares during the last quarter. BlackRock Inc. raised its holdings in Floor & Decor by 16.3% in the third quarter. BlackRock Inc. now owns 2,172,254 shares of the company’s stock worth $65,538,000 after buying an additional 304,773 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Floor & Decor by 136.2% in the third quarter. Dimensional Fund Advisors LP now owns 451,662 shares of the company’s stock worth $13,628,000 after buying an additional 260,434 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Floor & Decor by 266.9% during the third quarter. Renaissance Technologies LLC now owns 383,800 shares of the company’s stock valued at $11,579,000 after purchasing an additional 279,200 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Floor & Decor by 50.3% during the third quarter. Neuberger Berman Group LLC now owns 1,216,715 shares of the company’s stock valued at $36,708,000 after purchasing an additional 407,255 shares during the last quarter.

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About Floor & Decor

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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