November 27, 2020

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First Trust Advisors LP Acquires 265,534 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

First Trust Advisors LP increased its position in Floor & Decor Holdings, Inc. (NYSE:FND) by 127.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 473,311 shares of the company’s stock after buying an additional 265,534 shares during the quarter. First Trust Advisors LP’s holdings in Floor & Decor were worth $35,404,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. bought a new stake in Floor & Decor in the 2nd quarter worth approximately $48,000. Capital Analysts LLC bought a new stake in Floor & Decor in the 2nd quarter worth approximately $49,000. Private Advisor Group LLC bought a new stake in Floor & Decor in the 2nd quarter worth approximately $56,000. Cerebellum GP LLC bought a new stake in Floor & Decor in the 3rd quarter worth approximately $66,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Floor & Decor in the 3rd quarter worth approximately $74,000.

A number of analysts recently weighed in on the company. Morgan Stanley boosted their target price on Floor & Decor from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, October 30th. Robert W. Baird boosted their target price on Floor & Decor from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Wells Fargo & Company boosted their price objective on Floor & Decor from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Exane BNP Paribas started coverage on Floor & Decor in a research report on Monday, October 5th. They issued an “outperform” rating and a $89.00 price objective for the company. Finally, Piper Sandler boosted their price objective on Floor & Decor from $66.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Floor & Decor currently has an average rating of “Buy” and an average target price of $77.33.

In related news, CEO Thomas V. Taylor sold 25,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $74.85, for a total value of $1,871,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian K. Robbins sold 10,813 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $75.65, for a total value of $818,003.45. Following the completion of the sale, the executive vice president now directly owns 43,651 shares in the company, valued at $3,302,198.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,676 shares of company stock worth $35,061,243. 5.20% of the stock is owned by insiders.

FND opened at $75.97 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 1.57. Floor & Decor Holdings, Inc. has a 52-week low of $24.36 and a 52-week high of $86.37. The stock has a market capitalization of $7.90 billion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 2.29 and a beta of 2.00. The stock’s 50 day moving average price is $78.02 and its 200-day moving average price is $63.79.

Floor & Decor (NYSE:FND) last posted its earnings results on Thursday, October 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.16. Floor & Decor had a return on equity of 16.23% and a net margin of 7.77%. The firm had revenue of $684.85 million for the quarter, compared to analysts’ expectations of $639.31 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 31.4% compared to the same quarter last year. Research analysts forecast that Floor & Decor Holdings, Inc. will post 1.41 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)




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