FND - Floor & Decor Holdings: Potential Worse Macro Conditions May Impair Near-Term Growth
2024-05-24 12:13:03 ET
Summary
- I reiterate my sell rating for FND due to the stock's high valuation and potential for a worsening macro environment.
- FND has not shown signs of improvement, with comp store sales continuing to decline and net sales growth in the negative region.
- I believe that mortgage rates could climb further, impairing housing affordability and demand for FND products.