Wells Fargo analyst Zachary Fadem maintained a Buy rating on Floor & Decor Holdings Inc (FND) today and set a price target of $54. The company’s shares closed yesterday at $39.92.
Fadem commented:
“We believe slower 2019 start largely owes to pre-buying ahead of tariff-driven price increases and an earlier Chinese New Year. Our model suggests FND’s comps (ex: hurricanes) are 72%+ correlated to 3-quarter lag, and when normalized for 2H18 pre-buying, we view our +2.5% comp as achievable with modest upside. Our price checks (Ex. 4-5) suggest FND leadership remains, with prices 15-32% below peers (including -14% in LVT), with FND’s gap widening vs. HD/LOW/LL in Q2. All 4 retailers raised prices (ranging +0.5%-4%), confirming tariff-driven inflation is beginning to materialize.”
According to TipRanks.com, Fadem is a 5-star analyst with an average return of 11.3% and a 68.4% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Advance Auto Parts, and Michaels Companies.
Currently, the analyst consensus on Floor & Decor Holdings Inc is a Strong Buy with an average price target of $50.50.
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Based on Floor & Decor Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $30.72 million. In comparison, last year the company had a net profit of $39.85 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock.
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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.
