Evercore ISI Adds Floor & Decor Holdings, Inc. (FND) to Its Tactical Underperform List

Evercore ISI analyst Greg Melich reiterated an In Line rating and $110.00 price target on Floor & Decor Holdings, Inc. (NYSE: FND).

The analyst commented: "We are adding FND to our negative tactical trading list into 4Q earnings next week. We believe the stock’s run to over $100 is a product of the market projecting a sharper recovery than we expect in FND’s business through 2024: While our HILI has turned positive for the first time since Aug 2022 (with mortgage rates, home prices and existing home sales the biggest drivers), FND’s core, big ticket/discretionary offering may take longer to reap the benefits of the slower, steady recovery in need based home improvement. This delayed flow through (at a later rate than HD/SHW/LOW) suggests a guidedown to flat on down EPS to near $2 on Feb 22nd might not be enough for the stock which seems to discount a recovery to $3 in EPS by 2025. "

For an analyst ratings summary and ratings history on Floor & Decor Holdings, Inc. click here. For more ratings news on Floor & Decor Holdings, Inc. click here.

Shares of Floor & Decor Holdings, Inc. closed at $106.10 yesterday.

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