TD Cowen lowered the firm’s price target on Floor & Decor to $48 from $60 and keeps a Hold rating on the shares. The firm said shares remain pressured as comps declined (3.7%) and management quickly cut the FY comps guide now to (4%) to flat. Laminate and Vinyl category continues to slow and is forcing managemento take pricing actions with a focus on share preservation at the lower-end of its assortment.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FND:
- Floor & Decor price target lowered to $63 from $90 at Baird
- Floor & Decor price target lowered to $51 from $55 at Evercore ISI
- Floor & Decor price target lowered to $41 from $45 at BofA
- Floor & Decor price target lowered to $75 from $90 at Stifel
- Floor & Decor price target lowered to $70 from $78 at Piper Sandler