Spyglass Capital Management LLC Acquires 59,924 Shares of Floor & Decor Holdings, Inc. (NYSE:FND)

Spyglass Capital Management LLC increased its stake in shares of Floor & Decor Holdings, Inc. (NYSE:FND - Free Report) by 15.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 447,676 shares of the company's stock after acquiring an additional 59,924 shares during the period. Floor & Decor comprises approximately 3.7% of Spyglass Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Spyglass Capital Management LLC owned 0.42% of Floor & Decor worth $55,588,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in shares of Floor & Decor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,106 shares of the company's stock valued at $386,000 after buying an additional 110 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Floor & Decor by 1.2% during the 2nd quarter. King Luther Capital Management Corp now owns 10,987 shares of the company's stock worth $1,092,000 after purchasing an additional 127 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Floor & Decor by 4.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,354 shares of the company's stock valued at $333,000 after purchasing an additional 138 shares during the period. Silver Coast Investments LLC lifted its stake in Floor & Decor by 5.1% in the 3rd quarter. Silver Coast Investments LLC now owns 3,074 shares of the company's stock valued at $382,000 after purchasing an additional 150 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Floor & Decor by 7.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,371 shares of the company's stock worth $236,000 after buying an additional 169 shares during the last quarter.

Analyst Ratings Changes

FND has been the subject of several research analyst reports. Wedbush reiterated an "outperform" rating and set a $110.00 target price on shares of Floor & Decor in a research note on Friday, October 25th. Guggenheim decreased their price objective on shares of Floor & Decor from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Floor & Decor from $97.50 to $100.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Piper Sandler decreased their price target on shares of Floor & Decor from $119.00 to $118.00 and set a "neutral" rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company raised their price objective on shares of Floor & Decor from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $104.37.

Floor & Decor Price Performance

FND traded down $1.87 on Friday, hitting $112.21. 782,512 shares of the stock were exchanged, compared to its average volume of 1,494,313. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 62.34, a PEG ratio of 14.90 and a beta of 1.83. 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 Holdings, Inc. has a 12 month low of $89.06 and a 12 month high of $135.67. The business has a 50-day moving average of $109.85 and a two-hundred day moving average of $108.03.

Floor & Decor (NYSE:FND - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.06. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.14 billion. Floor & Decor had a net margin of 4.45% and a return on equity of 9.69%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. Sell-side analysts forecast that Floor & Decor Holdings, Inc. will post 1.71 EPS for the current fiscal year.

Floor & Decor Company Profile

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.