Floor & Decor (NYSE:FND) Updates FY24 Earnings Guidance

Floor & Decor (NYSE:FND) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.55-$1.75 for the period, compared to the consensus estimate of $1.79. The company issued revenue guidance of $4.40-$4.49 billion, compared to the consensus revenue estimate of $4.57 billion. Floor & Decor also updated its FY 2024 guidance to 1.550-1.750 EPS.

Analyst Upgrades and Downgrades

FND has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Floor & Decor from $125.00 to $95.00 and set an equal weight rating on the stock in a report on Friday, July 26th. Robert W. Baird decreased their price objective on Floor & Decor from $127.00 to $115.00 and set an outperform rating for the company in a report on Monday, July 29th. UBS Group cut their target price on Floor & Decor from $135.00 to $125.00 and set a neutral rating on the stock in a report on Friday, May 3rd. TD Cowen decreased their price target on Floor & Decor from $115.00 to $100.00 and set a hold rating for the company in a research note on Friday, July 12th. Finally, Evercore ISI lowered their price objective on Floor & Decor from $120.00 to $100.00 and set an in-line rating for the company in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Floor & Decor currently has an average rating of Hold and a consensus target price of $103.32.

Floor & Decor Stock Performance

FND stock traded up $3.75 during midday trading on Friday, hitting $97.89. The company’s stock had a trading volume of 4,632,778 shares, compared to its average volume of 2,302,808. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 47.29, a PEG ratio of 10.13 and a beta of 1.74. The company has a quick ratio of 0.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $104.49 and its 200 day moving average price is $111.55. Floor & Decor has a 1 year low of $76.30 and a 1 year high of $135.67.

Floor & Decor (NYSE:FND) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $1.13 billion during 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 firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Floor & Decor will post 1.81 EPS for the current year.

Insider Activity at Floor & Decor

In related news, EVP Steven Alan Denny sold 1,010 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $123.11, for a total value of $124,341.10. Following the sale, the executive vice president now directly owns 12,911 shares in the company, valued at approximately $1,589,473.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Floor & Decor news, EVP Steven Alan Denny sold 1,010 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $123.11, for a total transaction of $124,341.10. Following the sale, the executive vice president now owns 12,911 shares of the company’s stock, valued at approximately $1,589,473.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Starrett sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $118.24, for a total value of $591,200.00. Following the completion of the transaction, the director now directly owns 128,189 shares of the company’s stock, valued at $15,157,067.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,778 shares of company stock worth $5,182,791. Insiders own 2.10% of the company’s stock.

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.