Long Position on FND @ $125.00 on 9/30/2021 (Momentum)

Floor & Decor Holdings, Inc. (FND) operates as a multi-channel specialty retailer of hard surface flooring and related accessories. 

The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

As of December 31, 2020, the company operated 133 warehouse-format stores and two small design studios in 31 states in the United States. Floor & Decor Holdings, Inc. also sells products through its Website, FloorandDecor.com.

The company was formerly known as FDO Holdings, Inc. and changed its name to Floor & Decor Holdings, Inc. in April 2017.

On August 6th, Floor & Decor reported 2nd Quarter June 2021 earnings of $0.73 per share on revenue of $860.1 million. The consensus earnings estimate was $0.62 per share on revenue of $837.9 million. Revenue grew 86.0% on a year-over-year basis.

Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 50-day moving average. Higher share prices are expected for this stock.

Entry Point: $125.00

Stop Loss: $119.00

Trading Range: $69.39 to $132.07

Target Price: $137.50

Position closed on 10/21/2021 at price of $135.00 with a 8.00% gain in 21 days.

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