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FND · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Floor & Decor Holdings, Inc. (FND) stock moving?
Floor & Decor reported fiscal Q3 2026 adjusted EPS of $0.61 on $1.21 billion of revenue and trimmed the top end of its FY2026 GAAP EPS guidance to $2.19-$2.29, which remains above the $2.06 consensus. The stock rose to $50.34 on Oct 29, then fell to $47.59 on Oct 30 on 5.6M shares, about 1.7 times its typical volume. It rebounded to a $53.41 high on Nov 4 on 5.35M shares, which was the strongest volume day of the period, but has since eased to $51.44 on Nov 10. Analysts responded with a wave of price target cuts: Goldman Sachs downgraded to Sell with a $38 target, while Morgan Stanley ($60), Stifel ($51), JPMorgan ($57), TD Cowen ($52), UBS ($54), Telsey ($50, downgraded to Market Perform), Truist ($65, Buy) and Evercore ($55, raised) cover the rest. The nine listed targets average about $53.6, so the price sits close to the consensus middle. Board changes add a governance element: Thomas Taylor moves to non-executive Chair on Jan 1, 2027, and Impactive Capital co-founder Lauren Taylor Wolfe joins the board on Feb 1, 2027. New store openings in Maryland and Florida support the growth story, but the guidance cut and the wave of target reductions weigh on near-term sentiment.
News behind the analysis
- Floor & Decor Reports Fiscal Q3 2026 Financial ResultsQ3 2026 adjusted EPS was $0.61 on revenue of $1.21 billion, with updated fiscal 2026 guidance. Shares dropped after hours.
- Floor & Decor Hldgs Lowers FY2026 GAAP EPS Guidance from $2.20-$2.45 to $2.19-$2.29 vs $2.06 EstThe company cut the top end of its fiscal 2026 GAAP EPS guidance. The new range remains above the $2.06 consensus estimate.
- Floor & Decor Announces Executive Chair Thomas Taylor To Become Board Chair, Effective Jan. 1, 2027Thomas Taylor will move from Executive Chair to non-executive Board Chair on Jan 1, 2027. Impactive Capital co-founder Lauren Taylor Wolfe joins the board Feb 1, 2027, and Lead Director Norman Axelrod will not stand for reelection in May 2027.
- Goldman Sachs Downgrades Floor & Decor to SellGoldman Sachs cut Floor & Decor from Neutral to Sell with a $38 price target. The target sits well below the current share price.
- Morgan Stanley Maintains Equal-Weight on Floor & Decor Hldgs, Lowers Price Target to $60Morgan Stanley kept its Equal-Weight rating and lowered its price target to $60 after the quarter.
- Stifel Maintains Hold Rating on Floor & Decor, Lowers Price TargetStifel kept its Hold rating and reduced its price target from $52 to $51.
- Telsey Advisory Group Downgrades Floor & Decor Hldgs to Market Perform, Lowers Price Target to $50Telsey Advisory Group downgraded Floor & Decor to Market Perform and cut its price target to $50.
- Truist Securities Maintains Buy on Floor & Decor Hldgs, Lowers Price Target to $65Truist kept its Buy rating and lowered its price target from $70 to $65. It is the most bullish of the recent rating actions.
- Evercore ISI Group Maintains In-Line on Floor & Decor Hldgs, Raises Price Target to $55Evercore ISI kept its In-Line rating and raised its price target from $50 to $55.
- Floor & Decor Opens New Store in Frederick, MarylandThe company opened a new warehouse store and design center in Frederick, Maryland, extending its retail footprint.
About Floor & Decor Holdings, Inc.
Floor & Decor is a US specialty retailer selling hard-surface flooring: tile, wood, laminate, vinyl and natural stone, plus installation materials and accessories. Its big warehouse-format stores keep a large range of products in stock at low prices, and it caters to both homeowners and professional contractors, who now make up roughly 55% of sales.
How it makes money
Almost all of its revenue comes from selling flooring and related products through its warehouse stores, about 20% of which are ordered online. Laminate and vinyl make up roughly 23% of sales, and tile, wood, stone and installation materials account for most of the rest. Its Spartan Surfaces business sells commercial flooring. Sales for fiscal 2026 are guided at about $4.8 billion, and growth comes from opening new stores (about 20 in 2026 and 10 to 15 planned for 2027) as well as from changes in sales at existing stores.
What usually moves FND
- Existing-home sales and remodeling demand
- Comparable store sales trends
- Pace of new store openings
- Tariffs and import costs on flooring products
- Growth in professional (contractor) customers