Floor & Decor (NYSE:FND – Get Rating) released an update to its fiscal 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65 to 2 $.80 for the period, compared to the consensus estimate of $2.83. The company released a revenue forecast of $4.29 billion to $4.33 billion, compared to the consensus revenue estimate of $4.32 billion. Floor & Decor also updated its FY22 guidance to $2.65 EPS at $2.80.
Performance of flooring and decoration stocks
NYSE FND shares were down $1.82 in Thursday’s midday session, hitting $81.86. 2,062,109 shares of the company were traded, against an average volume of 1,318,780. The company has a quick ratio of 0.16, a current ratio of 1.21 and a leverage ratio of 0.14. The company’s 50-day moving average price is $72.67 and its 200-day moving average price is $83.91. Floor & Decor has a 12-month low of $59.91 and a 12-month high of $145.89. The company has a market capitalization of $8.67 billion, a PE ratio of 31.73, a growth price-earnings ratio of 1.18 and a beta of 1.85.
Floor & Decor (NYSE:FND – Get Rating) last released quarterly earnings data on Thursday, May 5. The company reported earnings per share (EPS) of $0.67 for the quarter, beating the consensus estimate of $0.64 by $0.03. The company posted revenue of $1.03 billion in the quarter, versus a consensus estimate of $1 billion. Floor & Decor achieved a net margin of 7.57% and a return on equity of 20.21%. The company’s revenue for the quarter increased by 31.5% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.68. As a group, analysts expect Floor & Decor to post earnings per share of 2.84 for the current fiscal year.
Analysts set new price targets
A number of equity research analysts have weighed in on the stock recently. Robert W. Baird lowered his price target on Floor & Decor shares from $130.00 to $110.00 in a Monday, May 2 research report. UBS Group lowered its price target on Floor & Decor shares from $120.00 to $110.00 and placed a buy rating on the stock in a Monday July 25 research note. Wedbush lowered its price target on Floor & Decor shares from $130.00 to $100.00 and set an outperform rating for the stock in a Friday May 6 research note. Wells Fargo & Company cut its price target on Floor & Decor shares from $105.00 to $95.00 and set an overweight rating on the stock in a Wednesday, June 8 research note. Finally, Citigroup lowered its price target on Floor & Decor shares from $137.00 to $106.00 in a Friday, May 13 research note. Five analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat, Floor & Decor has a moderate buy consensus rating and an average price target of $105.07.
Institutional investors weigh in on floor and decor
Several hedge funds and other institutional investors have recently changed their positions in the FND. Wellington Management Group LLP increased its position in Floor & Decor shares by 7.0% during the first quarter. Wellington Management Group LLP now owns 990,567 shares of the company worth $80,236,000 after acquiring an additional 64,616 shares last quarter. Verition Fund Management LLC purchased a new stake in shares of Floor & Decor during the first quarter for a value of approximately $4,580,000. BlackRock Inc. increased its position in Floor & Decor shares by 0.8% during the first quarter. BlackRock Inc. now owns 6,580,259 shares of the company worth $533,001,000 after acquiring an additional 55,279 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Floor & Decor in Q1 worth approximately $3,431,000. Finally, Owls Nest Partners IA LLC increased its position in Floor & Decor by 23.4% in the 1st quarter. Owls Nest Partners IA LLC now owns 153,723 shares of the company worth $12,452,000 after purchasing an additional 29,115 shares last quarter. 96.48% of the shares are held by institutional investors.
About flooring and decoration
(Get a rating)
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and distributor of commercial flooring of hard surface flooring and related accessories. The company’s stores offer tile, wood, laminate, vinyl and natural stone products, as well as decorative and installation accessories.
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