Raymond James increases his ownership in Floor & Decor Holdings, Inc.
Floor & Decor Holdings’ latest quarterly earnings report was released on May 4 and revealed earnings per share of $0.66 for the period. While this result fell slightly short of some analysts’ expectations, it was lower than the consensus estimates had expected.
Floor & Decor primarily focuses on selling hardwood floors as well as offering related accessories such as tile, vinyl, wood, and stone installation services for living rooms, kitchens, bathrooms, partitions, and more. The company was founded by George Vincent West in 2000 and has since grown to become a major player in the Atlanta home improvement industry.
With a group of sell-side analysts forecasting Floor & Decor to post EPS of $2.66 for the current year, all eyes will be on the company’s second-quarter financial results later this year.
The rise in Raymond James holdings could be valuable to Floor & Decor in their future growth plans, while also being seen as an indication of broader positive investor sentiment from Wall Street toward this retail giant.
Investors and hedge funds are taking notice of potential growth opportunities for flooring and decorating
Floor and Decor Holdings Inc appears to be attracting the attention of several high-profile institutional investors and hedge funds, with some making substantial changes to their positions in the company. Since the third quarter, PARK CIRCLE Co. has purchased a new stake in Floor & Decor stock for approximately $28,000. FourThought Financial LLC also significantly grew its position in Floor & Decor by 47.9% during the third quarter, increasing its stake from 313 to 463 shares valued at $33,000. Additionally, Belpointe Asset Management LLC purchased new shares for $35,000 during the fourth quarter, while Standard Family Office LLC invested in the third quarter with purchases of approximately $48,000; Meanwhile, YD More Investments Ltd bought a new stake for around $51,000 last year.
As it stands at the moment, Floor & Decor holdings opened at $88.44 a share on Friday. The debt-to-equity ratio is 0.17 along with a quick ratio of 0.15 and a trading ratio of 1.32. The AP/E (price earnings) ratio is 31.93 along with having an estimated market capitalization of over $9 billion while hitting twelve-month lows ($59.91) and highs ($102.61).
Floor & Decor is an Atlanta-based provider of hardwood flooring and accessories that specializes in products such as vinyl tile, laminate flooring, or natural stone imported from regions around the world including Europe along with sales experience to help customers install flooring materials themselves. If they decide to do so.
Notable investors and institutions aren’t the only ones noticing Floor & Decor’s potential. Several brokerages have given endorsements to FND such as TheStreet which raised its rating from “c+” to “b-” on March 27 of this year while Morgan Stanley raised its price targets from $80 to $90 citing an “equal weight” rating earlier. from the same month. Target price cut from $115.00 to $110.00 executed by Citigroup; Whereas, on the contrary, about two weeks ago, Robert W. Baird raised the limit from $105 to $115 giving it an “outperform” rating in late February. Analysts seem generally divided on how they feel FND will trend in stock value, as evidenced by the “Hold” badge provided by Bloomberg.com including composite ratings given by medium brokerage recommendations that have an average target value set. Its $92 per share.
It is also worth noting that there have been several recent insider transactions, such as EVP David Victor Christopherson selling 4,000 shares with a market value of $368,000 last February 28, and Director Richard L Sullivan doing the same with 1,734 shares that same day with a total sell-off in the market. About $159,423.96 USD.
There is no doubt that Floor & Decor continues to show signs of growth on many fronts including investor interest and serious stock performance since its founding in 2000, thus attracting curiosity from retail consumers looking for innovative flooring options and interested investors who see attractive growth potential. And take profit.
