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

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

Floor & Decor Price Performance

Floor & Decor stock traded down $0.35 during trading hours on Friday, hitting $105.17. 1,023,413 shares of the company traded hands, compared to its average volume of 1,518,532. Floor & Decor has a 1-year low of $76.30 and a 1-year high of $135.67. The firm has a market cap of $11.25 billion, a P/E ratio of 50.81, a P/E/G ratio of 10.13 and a beta of 1.74. The firm’s 50-day simple moving average is $101.50 and its two-hundred day simple moving average is $111.09. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Floor & Decor had a net margin of 4.78% and a return on equity of 10.85%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. As a group, analysts forecast that Floor & Decor will post 1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Floor & Decor news, CEO Thomas V. Taylor sold 34,199 shares of the company’s 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 owns 168,386 shares in the company, valued at approximately $21,048,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Polen Capital Management LLC boosted its position in shares of Floor & Decor by 59,133.5% during the 4th 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 in the last quarter. Capital Research Global Investors grew its position in Floor & Decor by 20.4% in the first quarter. Capital Research Global Investors now owns 7,871,841 shares of the company’s stock worth $1,020,348,000 after buying an additional 1,334,650 shares during the last quarter. XN LP bought a new position in shares of Floor & Decor in the second quarter valued at $70,177,000. Capital World Investors lifted its position in shares of Floor & Decor by 5.6% during the 4th quarter. Capital World Investors now owns 11,908,550 shares of the company’s stock valued at $1,328,518,000 after acquiring an additional 627,256 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Floor & Decor by 3,355.8% during the 4th quarter. Principal Financial Group Inc. now owns 444,583 shares of the company’s stock worth $49,598,000 after acquiring an additional 431,718 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FND. Guggenheim 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 Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of Floor & Decor from $125.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. UBS Group cut their price target on shares of Floor & Decor from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Robert W. Baird reduced their price target on shares of Floor & Decor from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Finally, Telsey Advisory Group lowered their price objective on Floor & Decor from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Floor & Decor currently has an average rating of “Hold” and a consensus price target of $104.37.

About Floor & Decor

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.