Floor & Decor Holdings Price Target Increased to $153 From $134 at Berenberg Bank
Analysts at Berenberg Bank increased their price target on Floor & Decor Holdings, Inc. (NYSE:FND) to $153 from $134 following the recent Q3 results, which reflected the company’s ability to provide consumers with a wide range of products in a challenging operating environment.
While investors have remained cautious over margin pressures and a lack of full 2022-year outlook, analysts at Berenberg Bank remain positive on the company, given ongoing industry tailwinds and the company’s continued expansion of new stores and product offerings.
Q3 same-store sales grew 10.9% year-over-year driven by robust demand and an 8.3% year-over-year increase in average sales per customer. However, despite continued same-store sales growth above management’s target, investors have remained cautious over a moderating growth rate. On a two-year CAGR, same-store sales grew 14.1% in Q3 versus 15.1% in Q2.
Given the continued opening of new stores, upselling of products, and growth of the company’s pro-business, Berenberg Bank believes that drivers for future sales growth remain strong.
| Symbol | Price | %chg |
|---|---|---|
| DEPO.JK | 198 | -0.51 |
| HD.NE | 25.85 | -0.58 |
| HD | 408.535 | -0.56 |
| HDI.DE | 352.25 | 0.07 |
Floor & Decor Posts Strong Q4 Earnings Beat
Floor & Decor (NYSE:FND) posted better-than-expected fourth-quarter earnings and revenue, reinforcing investor confidence in its growth trajectory despite a slight dip in comparable sales.
For Q4, the specialty flooring retailer reported earnings per share of $0.44, far exceeding analyst expectations of $0.25. Revenue reached $1.11 billion, surpassing the $1.08 billion forecast and marking a 5.7% year-over-year increase.
Looking ahead, Floor & Decor provided a fiscal 2025 earnings outlook of $1.80 to $2.10 per share, closely aligning with the $1.98 consensus estimate. The company projects annual revenue between $4.74 billion and $4.9 billion, compared to analyst expectations of $4.86 billion.
Despite reporting a 0.8% decline in comparable store sales for the quarter, Floor & Decor continued its aggressive expansion, opening 10 new warehouse stores in Q4, bringing its total store count to 251 across 38 states.
Floor & Decor Posts Strong Q4 Earnings Beat
Floor & Decor (NYSE:FND) posted better-than-expected fourth-quarter earnings and revenue, reinforcing investor confidence in its growth trajectory despite a slight dip in comparable sales.
For Q4, the specialty flooring retailer reported earnings per share of $0.44, far exceeding analyst expectations of $0.25. Revenue reached $1.11 billion, surpassing the $1.08 billion forecast and marking a 5.7% year-over-year increase.
Looking ahead, Floor & Decor provided a fiscal 2025 earnings outlook of $1.80 to $2.10 per share, closely aligning with the $1.98 consensus estimate. The company projects annual revenue between $4.74 billion and $4.9 billion, compared to analyst expectations of $4.86 billion.
Despite reporting a 0.8% decline in comparable store sales for the quarter, Floor & Decor continued its aggressive expansion, opening 10 new warehouse stores in Q4, bringing its total store count to 251 across 38 states.
Floor & Decor Holdings Price Target Increased to $153 From $134 at Berenberg Bank
Analysts at Berenberg Bank increased their price target on Floor & Decor Holdings, Inc. (NYSE:FND) to $153 from $134 following the recent Q3 results, which reflected the company’s ability to provide consumers with a wide range of products in a challenging operating environment.
While investors have remained cautious over margin pressures and a lack of full 2022-year outlook, analysts at Berenberg Bank remain positive on the company, given ongoing industry tailwinds and the company’s continued expansion of new stores and product offerings.
Q3 same-store sales grew 10.9% year-over-year driven by robust demand and an 8.3% year-over-year increase in average sales per customer. However, despite continued same-store sales growth above management’s target, investors have remained cautious over a moderating growth rate. On a two-year CAGR, same-store sales grew 14.1% in Q3 versus 15.1% in Q2.
Given the continued opening of new stores, upselling of products, and growth of the company’s pro-business, Berenberg Bank believes that drivers for future sales growth remain strong.
