William Blair analyst Phillip Blee has maintained their bullish stance on FND stock, giving a Buy rating on July 28.
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Phillip Blee has given his Buy rating due to a combination of factors that highlight Floor & Decor Holdings’ potential for growth despite current market challenges. The company reported better-than-expected sales and earnings per share for the second quarter, driven by a positive shift in comparable store sales, which exceeded both consensus and buy-side expectations. This positive performance came as a surprise given the ongoing pressures in the housing market and consumer spending on large-ticket items.
Management’s decision to maintain its full-year guidance, along with a slight increase in the EPS forecast, suggests confidence in navigating the current economic environment. The company’s strategic pricing adjustments and favorable product mix are expected to drive further growth, even as existing home sales remain a critical factor. If home sales improve, there is potential for accelerated growth in the third quarter, providing a compelling case for the Buy rating.
In another report released on July 28, Telsey Advisory also maintained a Buy rating on the stock with a $100.00 price target.