Raymond James Financial Inc. Makes New Investment in Floor & Decor Holdings, Inc. (NYSE:FND)

Raymond James Financial Inc. bought a new stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND) during the 4th quarter, HoldingsChannel reports. The firm bought 548,042 shares of the company’s stock, valued at approximately $54,640,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Floor & Decor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 9,792,571 shares of the company’s stock valued at $976,319,000 after purchasing an additional 133,766 shares in the last quarter. FMR LLC increased its holdings in shares of Floor & Decor by 34.7% in the third quarter. FMR LLC now owns 5,015,871 shares of the company’s stock valued at $622,821,000 after purchasing an additional 1,291,214 shares in the last quarter. State Street Corp increased its holdings in shares of Floor & Decor by 6.3% in the third quarter. State Street Corp now owns 3,769,808 shares of the company’s stock valued at $468,097,000 after purchasing an additional 222,980 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Floor & Decor by 3.9% in the third quarter. Wasatch Advisors LP now owns 2,252,815 shares of the company’s stock valued at $279,732,000 after purchasing an additional 85,299 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Floor & Decor by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,790,280 shares of the company’s stock valued at $222,357,000 after purchasing an additional 24,509 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on FND shares. Barclays raised shares of Floor & Decor from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $75.00 to $91.00 in a report on Wednesday, January 8th. Gordon Haskett raised shares of Floor & Decor from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Friday, February 21st. Wedbush lowered shares of Floor & Decor from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $100.00 in a report on Friday, February 14th. Stifel Nicolaus raised shares of Floor & Decor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $110.00 in a research report on Monday, February 24th. Finally, Piper Sandler cut their price objective on shares of Floor & Decor from $118.00 to $103.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.68.

Floor & Decor Stock Up 1.9 %

NYSE:FND opened at $92.90 on Tuesday. The company has a market capitalization of $9.98 billion, a PE ratio of 48.89, a P/E/G ratio of 19.06 and a beta of 1.95. The firm’s 50-day moving average price is $97.98 and its 200-day moving average price is $105.38. Floor & Decor Holdings, Inc. has a 1-year low of $85.86 and a 1-year high of $135.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.16 and a quick ratio of 0.29.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, February 20th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Floor & Decor had a net margin of 4.62% and a return on equity of 9.80%. On average, equities analysts predict that Floor & Decor Holdings, Inc. will post 2 EPS for the current fiscal year.

About Floor & Decor

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.