UBS moves to the sidelines on Floor & Decor on valuation, economic environment [Seeking Alpha]
Floor & Decor Holdings, Inc. (FND)
NASDAQ:AMEX Investor Relations:
dictionary.com/browse/floor
Company Research
Source: Seeking Alpha
expectations that the company would find difficult to achieve considering current macro factors. If the stock trades at its average forward multiple 38x in 2025, this would imply the market is pricing in ~$3.20 EPS in 2025 versus the current estimate of $2.67, a 20% premium, UBS analyst Michael Lasser said. For a $3.20 EPS to happen, Lasser argues, Floor & Decor ( NYSE: FND ) would need comparable store sales growth to reach 6% in 2025 (currently -7.0%) and achieve an operating income margin of around 8.4% (currently 7.3%), 240 basis points higher than guidance for 2024, which means existing home sales would have to reach 4.5M-5.0M in 2025 driven by a sub-6% mortgage rate. Should the interest rate environment remain higher-for-longer and threaten a 2025 recovery in demand, UBS models comparable sales decline of 3.6% in 2024 followed by 6.0% growth in 2025. While Lasser remains “enthusiastic” about Floor & Decor's ( FND ) longer-term outlook, the possibility that a healthy recove
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FND
News
- Floor & Decor Announces Grand Opening of Bremerton, Washington Store [Yahoo! Finance]Yahoo! Finance
- Floor & Decor Announces Grand Opening of Bremerton, Washington StoreBusiness Wire
- Floor & Decor Announces Grand Opening of Lone Tree, Colorado StoreBusiness Wire
- Floor & Decor Holdings, Inc. (NYSE: FND) had its price target lowered by analysts at Evercore ISI from $125.00 to $120.00. They now have an "in-line" rating on the stock.MarketBeat
- Floor & Decor Holdings, Inc. Announces First Quarter Fiscal 2024 Earnings Conference Call [Yahoo! Finance]Yahoo! Finance
FND
Earnings
- 2/22/24 - Beat
FND
Sec Filings
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form DEF
- 3/5/24 - Form 4
- FND's page on the SEC website