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

Floor & Decor Holdings Inc (NYSE:FND) – Wedbush reduced their Q2 2019 earnings per share estimates for shares of Floor & Decor in a report released on Tuesday, June 4th, according to Zacks Investment Research. Wedbush analyst S. Basham now anticipates that the company will earn $0.30 per share for the quarter, down from their previous estimate of $0.31. Wedbush currently has a “In-Line” rating and a $48.00 target price on the stock. Wedbush also issued estimates for Floor & Decor’s Q3 2019 earnings at $0.27 EPS, FY2019 earnings at $1.06 EPS and FY2020 earnings at $1.35 EPS.

Floor & Decor (NYSE:FND) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $477.05 million during the quarter, compared to analysts’ expectations of $480.17 million. Floor & Decor had a return on equity of 18.19% and a net margin of 6.45%. Floor & Decor’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS.

Several other research firms have also recently commented on FND. Loop Capital cut Floor & Decor from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research note on Friday, April 5th. They noted that the move was a valuation call. Stephens began coverage on Floor & Decor in a research report on Tuesday, April 23rd. They issued a “weight” rating and a $56.00 target price on the stock. Telsey Advisory Group lowered Floor & Decor from an “outperform” rating to a “market perform” rating and set a $44.00 target price on the stock. in a research report on Monday, April 8th. Zacks Investment Research raised Floor & Decor from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday, April 29th. Finally, Evercore ISI began coverage on Floor & Decor in a research report on Wednesday, March 20th. They issued an “in-line” rating and a $42.00 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $43.08.

NYSE FND traded up $1.71 on Thursday, reaching $41.90. The company had a trading volume of 1,177,349 shares, compared to its average volume of 1,121,261. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 43.20, a PEG ratio of 1.61 and a beta of 2.08. The company has a quick ratio of 0.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.33. The firm’s 50-day moving average is $38.99. Floor & Decor has a 1 year low of $23.30 and a 1 year high of $52.38.

Institutional investors and hedge funds have recently modified their holdings of the company. Frontier Capital Management Co. LLC boosted its stake in Floor & Decor by 474.1% during the first quarter. Frontier Capital Management Co. LLC now owns 1,654,918 shares of the company’s stock valued at $68,216,000 after buying an additional 1,366,651 shares in the last quarter. Timucuan Asset Management Inc. FL raised its position in shares of Floor & Decor by 99.9% in the 4th quarter. Timucuan Asset Management Inc. FL now owns 2,593,417 shares of the company’s stock worth $67,170,000 after acquiring an additional 1,295,853 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Floor & Decor by 1,506.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,357,762 shares of the company’s stock worth $40,964,000 after acquiring an additional 1,273,225 shares in the last quarter. FMR LLC grew its stake in shares of Floor & Decor by 44.3% in the 1st quarter. FMR LLC now owns 3,784,344 shares of the company’s stock valued at $155,991,000 after buying an additional 1,161,156 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Floor & Decor in the 4th quarter valued at about $25,729,000.

In other news, Chairman Norman Axelrod sold 100,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $45.00, for a total transaction of $4,500,000.00. Following the transaction, the chairman now directly owns 80,128 shares of the company’s stock, valued at $3,605,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian K. Robbins sold 55,101 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $40.96, for a total value of $2,256,936.96. Following the transaction, the executive vice president now directly owns 8,387 shares in the company, valued at $343,531.52. The disclosure for this sale can be found here. Insiders have sold 979,972 shares of company stock worth $42,378,980 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Floor & Decor Company Profile

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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Earnings History and Estimates for Floor & Decor (NYSE:FND)

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