Floor & Decor price target lowered to $75 from $95 at Loop Capital

Loop Capital analyst Anthony Chukumba lowered the firm’s price target on Floor & Decor to $75 from $95 and keeps a Hold rating on the shares. The company’s Q1 results were largely in line with expectations, and the firm did not find Floor & Decor’s guidance reduction surprising given continued moribund U.S. existing home sales as well as the ongoing global trade war, the analyst tells investors in a research note. The potential “silver lining” for Floor & Decor is the fact that continued market weakness will likely lead to even more store closings from the company’s smaller hard surface flooring retailing competitors than already seen over the past few years, Loop adds.