Maverick Capital Ltd. Acquires New Shares in Floor & Decor Holdings, Inc. $FND

Maverick Capital Ltd. bought a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) in the 1st quarter, HoldingsChannel.com reports. The fund bought 66,108 shares of the company’s stock, valued at approximately $5,320,000.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Floor & Decor by 42.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company’s stock worth $41,000 after purchasing an additional 152 shares during the period. Commerce Bank boosted its stake in Floor & Decor by 3.7% during the first quarter. Commerce Bank now owns 4,712 shares of the company’s stock worth $379,000 after buying an additional 168 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Floor & Decor by 2.4% during the first quarter. Crossmark Global Holdings Inc. now owns 7,428 shares of the company’s stock valued at $598,000 after acquiring an additional 171 shares during the last quarter. Xponance Inc. raised its stake in shares of Floor & Decor by 1.2% in the 1st quarter. Xponance Inc. now owns 16,018 shares of the company’s stock valued at $1,289,000 after acquiring an additional 190 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Floor & Decor by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the company’s stock valued at $2,414,000 after purchasing an additional 200 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI lowered their target price on Floor & Decor from $85.00 to $80.00 and set an “in-line” rating for the company in a report on Tuesday, June 24th. Guggenheim lowered their price objective on Floor & Decor from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Morgan Stanley dropped their price objective on shares of Floor & Decor from $105.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Loop Capital decreased their price objective on shares of Floor & Decor from $95.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $92.00 target price on shares of Floor & Decor in a research report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.56.

Floor & Decor Stock Down 2.1%

Shares of NYSE:FND opened at $81.85 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.28. The firm has a fifty day moving average price of $80.71 and a 200 day moving average price of $79.90. Floor & Decor Holdings, Inc. has a 1-year low of $66.01 and a 1-year high of $124.68. The stock has a market cap of $8.81 billion, a P/E ratio of 41.98, a P/E/G ratio of 3.51 and a beta of 1.68.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Floor & Decor had a net margin of 4.59% and a return on equity of 9.36%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. Sell-side analysts predict that Floor & Decor Holdings, Inc. will post 2 EPS for the current year.

Floor & Decor Company Profile

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.