Floor & Decor Holdings, Inc. (NYSE:FND) Sees Significant Increase in Short-Term Interest

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Floor & Decor Holdings, Inc. (NYSE: FND – Get a rating) benefited from strong growth in short-term interest rates in June. As of June 15, there was short interest totaling 6,070,000 shares, a growth of 32.0% from the total of 4,600,000 shares as of May 31. Currently, 5.9% of the company’s shares are sold short. Based on an average trading volume of 1,460,000 shares, the short-term interest rate ratio is currently 4.2 days.

FND stock opened at $64.97 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.16 and a debt ratio of 0.14. The company has a market capitalization of $6.88 billion, a PE ratio of 25.18, a PEG ratio of 0.89 and a beta of 1.77. Floor & Decor has a 1 year minimum of $59.91 and a 1 year maximum of $145.89. The company’s 50-day simple moving average is $72.67 and its 200-day simple moving average is $91.45.

Flooring and Decoration (NYSE: FND – Get a rating) last reported results on Thursday, May 5. The company reported earnings per share of $0.67 for the quarter, beating analyst consensus estimates of $0.64 by $0.03. The company posted revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. Floor & Decor achieved a return on equity of 20.21% and a net margin of 7.57%. The company’s revenue increased by 31.5% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.68. As a group, sell-side analysts expect Floor & Decor to post a current year EPS of 2.89.

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The FND has been the subject of several research reports. Wells Fargo & Company cut its price target on Floor & Decor from $105.00 to $95.00 and set an “overweight” rating on the stock in a Wednesday, June 8 research note. TheStreet upgraded Floor & Decor from a “b” to a “c+” rating in a Tuesday, March 22 research note. Goldman Sachs Group downgraded Floor & Decor from a ‘buy’ rating to a ‘neutral’ rating and cut its target price for the business from $109.00 to $64.00 in a Monday research note June 27. Wedbush cut its price target on Floor & Decor from $130.00 to $100.00 and set an “outperform” rating on the stock in a Friday, May 6 research note. Finally, Citigroup lowered its price target on Floor & Decor from $137.00 to $106.00 in a Friday, May 13 research note. Four analysts gave the stock a hold rating and ten gave the stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.92.

Several hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC increased its holdings in Floor & Decor by 3.0% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 3,392 shares of the company valued at $441,000 after buying 99 additional shares last quarter. Intrust Bank NA increased its holdings in Floor & Decor by 3.1% in the fourth quarter. Intrust Bank NA now owns 3,534 shares of the company valued at $459,000 after buying 107 additional shares last quarter. CIBC Asset Management Inc. increased its holdings in Floor & Decor by 3.0% in the fourth quarter. CIBC Asset Management Inc. now owns 4,348 shares of the company valued at $565,000 after purchasing an additional 125 shares last quarter. Resonant Capital Advisors LLC increased its holdings in Floor & Decor by 2.9% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,451 shares of the company valued at $579,000 after buying 126 additional shares last quarter. Finally, Quadrant Capital Group LLC increased its stake in Floor & Decor by 163.6% in the 4th quarter. Quadrant Capital Group LLC now owns 203 shares of the company valued at $26,000 after purchasing an additional 126 shares in the last quarter. 96.48% of the shares are currently held by institutional investors and hedge funds.

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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