Floor & Decor Holdings Inc (FND) Gets a Buy Rating from Wells Fargo


Wells Fargo analyst Zachary Fadem maintained a Buy rating on Floor & Decor Holdings Inc (FND) yesterday and set a price target of $37. The company’s shares closed yesterday at $29.31.

Fadem said:

“We hosted a lunch today (1/15) with FND management at ICR, and despite today’s -6% share reaction (+1% SPX), we walked away constructive on the setup from here. We believe today’s underperformance reflects a confluence of investor views, including: 1) macro/housing concerns reinforced by SHW’s disappointing outlook; 2) perceived Q4 risk (as FND did not preannounce); and 3) anxiety around a FY19 outlook expected to feature a host of put/takes (including incorporation of a 25% tariff). As expected, FND elected to hold off on its FY19 outlook, but provided helpful color on the macro environment (remains intact), growth opportunities, and the impact of tariffs.”

According to TipRanks.com, Fadem is a 3-star analyst with an average return of 2.7% and a 53.6% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Advance Auto Parts, and Michaels Companies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Floor & Decor Holdings Inc with a $36.89 average price target, a 25.9% upside from current levels. In a report issued on January 2, Longbow Research also reiterated a Buy rating on the stock with a $40 price target.

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Floor & Decor Holdings Inc’s market cap is currently $3.03B and has a P/E ratio of 21.02. The company has a Price to Book ratio of 5.06.

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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.

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