Piper Jaffray analyst Peter Keith upgraded Floor & Decor Holdings to Overweight and raised his price target for the shares to $58 from $51. The recent pullback in the shares provides a buying opportunity as the company's long-term growth remains "very strong," Keith tells investors in a research note.

Floor & Decor announced the grand opening of its seventh warehouse location in Colorado, with the addition of its newest location in Lone Tree at 8583 S Yosemite Street. The warehouse store and design center will open with a team of about 50 full-time and part-time associates led by Michael Abernathy, the store Chief Executive Merchant. "We're thrilled to announce our newest store location in Lone Tree," said Abernathy. "For more than two decades, Floor & Decor has had the opportunity to serve professionals and homeowners throughout the nation, and we are excited to expand our footprint in the Denver market with this new location. We look forward to becoming part of the community and welcoming our newest neighbors into our store and making their renovation journeys easier, inspired and more affordable."