Stifel lowered the firm’s price target on Floor & Decor to $110 from $115 and keeps a Hold rating on the shares. Though Q4 results outpaced the firm’s estimates driven by stronger comparable sales, growth notably in December, that month’s performance was “seemingly a dead cat bounce” given the meaningful deterioration year-to-date, the analyst tells investors. The firm now estimates a comparable sales decline of 5.2%, at the low end of company guidance, and now estimates FY24E EPS of $1.78, down from $2.11 and at the low end of the company’s FY24 guidance range of $1.75-$2.05, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FND:
- Floor & Decor price target raised to $110 from $95 at Telsey Advisory
- Floor & Decor price target raised to $110 from $71 at Loop Capital
- Floor & Decor price target raised to $125 from $115 at Wedbush
- Floor & Decor price target raised to $130 from $127 at Truist
- Floor & Decor price target raised to $105 from $98 at Piper Sandler