Floor & Decor price target lowered to $71 from $100 at Loop Capital

Loop Capital lowered the firm’s price target on Floor & Decor to $71 from $100 and keeps a Hold rating on the shares. The company had an “extremely challenging” Q3, with a substantial sequential deceleration in comparable store sales and a sizable operating margin decline, the analyst tells investors in a research note. Floor & Decor’s current travails are largely macro-economically driven by continued weakening of U.S. existing home sales and no end in sight to the present headwinds, making the current valuation levels “unsustainable”, the firm added.