Engineers Gate Manager LP boosted its position in shares of Floor & Decor Holdings Inc (NYSE:FND) by 303.0% during the second quarter, Holdings Channel.com reports. The fund owned 40,927 shares of the company’s stock after acquiring an additional 30,772 shares during the quarter. Engineers Gate Manager LP’s holdings in Floor & Decor were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FND. Financial Architects Inc raised its stake in Floor & Decor by 400.0% during the 1st quarter. Financial Architects Inc now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the period. Lenox Wealth Management Inc. bought a new stake in shares of Floor & Decor during the second quarter valued at approximately $48,000. Capital Analysts LLC bought a new stake in shares of Floor & Decor during the second quarter valued at approximately $49,000. Private Advisor Group LLC bought a new stake in shares of Floor & Decor during the second quarter valued at approximately $56,000. Finally, Fifth Third Bancorp raised its position in shares of Floor & Decor by 69.1% during the first quarter. Fifth Third Bancorp now owns 2,117 shares of the company’s stock valued at $68,000 after buying an additional 865 shares during the last quarter.
Several equities research analysts have recently issued reports on FND shares. Morgan Stanley lifted their price objective on shares of Floor & Decor from $28.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. TheStreet upgraded shares of Floor & Decor from a “c+” rating to a “b-” rating in a research report on Thursday, June 4th. Berenberg Bank started coverage on shares of Floor & Decor in a research report on Tuesday, June 23rd. They set a “buy” rating and a $74.00 price objective on the stock. Zacks Investment Research upgraded shares of Floor & Decor from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective on the stock in a research report on Monday, August 3rd. Finally, Robert W. Baird lifted their price objective on shares of Floor & Decor from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $66.47.
Shares of FND stock traded up $2.01 on Monday, hitting $73.57. The stock had a trading volume of 8,205 shares, compared to its average volume of 1,443,758. The company has a quick ratio of 0.44, a current ratio of 1.56 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average price of $69.60 and a 200 day moving average price of $52.32. The company has a market cap of $7.40 billion, a PE ratio of 51.86, a P/E/G ratio of 2.62 and a beta of 2.06. Floor & Decor Holdings Inc has a one year low of $24.36 and a one year high of $76.34.
Floor & Decor (NYSE:FND) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $462.35 million during the quarter, compared to the consensus estimate of $414.31 million. Floor & Decor had a return on equity of 13.31% and a net margin of 7.04%. Equities research analysts expect that Floor & Decor Holdings Inc will post 1.19 EPS for the current year.
In other Floor & Decor news, CFO Trevor Lang sold 36,458 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $58.51, for a total value of $2,133,157.58. Following the completion of the transaction, the chief financial officer now directly owns 234,071 shares in the company, valued at $13,695,494.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Norman Axelrod sold 34,000 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $70.00, for a total transaction of $2,380,000.00. Following the completion of the transaction, the director now owns 40,862 shares of the company’s stock, valued at $2,860,340. The disclosure for this sale can be found here. Insiders sold 6,138,092 shares of company stock valued at $410,094,068 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.
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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