Floor & Decor shares are lower in Thursday trading as the market digests another round of Wall Street target reductions following the company’s late-February results and cautious fiscal 2026 guidance. The latest notable cut came from TD Cowen, which lowered its price target to $60 while reiterating a Hold stance, reinforcing the view that near-term upside is capped until demand trends improve.

The pullback reflects a broader reset in expectations after the company’s 2026 outlook signaled a slower sales and earnings trajectory than many investors had been positioned for coming into the year. With the stock already pressured since the guidance update, incremental target cuts can act as a catalyst for additional selling as investors weigh a longer-than-hoped housing and remodeling recovery timeline.

Traders will focus on whether management’s comparable-sales trend stabilizes through the spring selling season and whether housing turnover and financing conditions improve enough to support traffic and ticket size. Any further revisions to 2026 expectations, additional analyst downgrades, or evidence that category demand is firming could quickly shift the tone, but for now the tape is reacting to the latest target cuts layered on top of a cautious outlook.