Floor & Decor downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded Floor & Decor to Sell from Neutral with an unchanged price target of $79. The firm cites the “well understood expectation” that housing turnover will remain muted with mortgage rates at higher levels for the downgrade. Floor & Decor’s fiscal 2026 unit growth could also be below historical opening cadence if sales were to remain pressured, the analyst tells investors in a research note. Further, Goldman points out that although the company has reduced its exposure to China sourcing since the last time tariffs were issued, it still has 25% of its product coming from the region, increasing the sensitivity to any headlines or decisions that come out the next several months.