Canada markets close in 6 hours 8 minutes
  • S&P/TSX

    20,403.73
    +197.32 (+0.98%)
     
  • S&P 500

    4,056.96
    +48.95 (+1.22%)
     
  • DOW

    32,506.08
    +282.66 (+0.88%)
     
  • CAD/USD

    0.7794
    +0.0009 (+0.12%)
     
  • CRUDE OIL

    115.12
    +0.92 (+0.81%)
     
  • BTC-CAD

    39,301.21
    +1,099.07 (+2.88%)
     
  • CMC Crypto 200

    689.83
    +447.15 (+184.26%)
     
  • GOLD FUTURES

    1,825.50
    +11.50 (+0.63%)
     
  • RUSSELL 2000

    1,819.49
    +36.06 (+2.02%)
     
  • 10-Yr Bond

    2.9640
    +0.0870 (+3.02%)
     
  • NASDAQ

    11,886.05
    +223.25 (+1.91%)
     
  • VOLATILITY

    26.88
    -0.59 (-2.15%)
     
  • FTSE

    7,512.08
    +47.28 (+0.63%)
     
  • NIKKEI 225

    26,659.75
    +112.70 (+0.42%)
     
  • CAD/EUR

    0.7395
    -0.0059 (-0.79%)
     

Floor & Decor (FND) Soars 8.6%: Is Further Upside Left in the Stock?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Floor & Decor (FND) shares rallied 8.6% in the last trading session to close at $105.14. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.5% loss over the past four weeks.

FND has been banking on the unique business model that offers broad, innovative trend-forward assortments in project-ready quantities, which enable its Pro and Homeowner customers to choose from multiple options to complete their projects on time. Although disruptions in the global supply chain have created uncertainty in product lead times and rising costs, a recent boost in lumber prices is likely to benefit the company's bottom-line.

This company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of -6.4%. Revenues are expected to be $908.13 million, up 25.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Floor & Decor, the consensus EPS estimate for the quarter has been revised 2.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FND going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Floor & Decor Holdings, Inc. (FND) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting