Lumber Liquidators (NYSE:LL) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Lumber Liquidators (NYSE:LL) from a sell rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “Lumber Liquidators, Inc. found its niche market in hardwood flooring. Lumber Liquidators prides itself on having one of the largest inventories of prefinished and unfinished hardwood floors in the industry. There are flooring experts in every store ready to help, and free samples are available. Lumber Liquidators carries solid and engineered hardwood, laminate flooring, bamboo flooring, cork flooring, vinyl flooring, wood-look tile flooring, butcher blocks, mouldings, accessories and tools. It negotiates directly with the mills, eliminating the middleman and passing the savings on to the customers. The environmentally conscientious company only purchases from suppliers who practice sustainable harvesting, which allows forests to heal and re-grow faster. Everything Lumber Liquidators sells (unless specified otherwise) is first-quality, graded to industry specifications, and available in standard flooring lengths. “

A number of other research firms have also recently weighed in on LL. ValuEngine raised Lumber Liquidators from a sell rating to a hold rating in a report on Wednesday, October 2nd. Raymond James lifted their target price on Lumber Liquidators from $10.00 to $14.00 and gave the company an outperform rating in a research note on Friday, September 13th. Finally, Evercore ISI reissued a hold rating on shares of Lumber Liquidators in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Lumber Liquidators currently has an average rating of Hold and a consensus target price of $11.38.

LL stock traded up $0.16 during midday trading on Friday, reaching $9.59. 705,280 shares of the company’s stock traded hands, compared to its average volume of 825,703. The company has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $10.39. Lumber Liquidators has a 1-year low of $6.59 and a 1-year high of $14.44. The company has a market cap of $270.65 million, a price-to-earnings ratio of 16.82, a PEG ratio of 0.85 and a beta of 1.97. The company has a quick ratio of 0.22, a current ratio of 1.47 and a debt-to-equity ratio of 1.27.

Lumber Liquidators (NYSE:LL) last released its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). Lumber Liquidators had a negative net margin of 5.37% and a positive return on equity of 6.17%. The business had revenue of $288.57 million for the quarter, compared to analyst estimates of $291.81 million. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Lumber Liquidators will post 0.37 EPS for the current year.

In related news, CEO Dennis R. Knowles acquired 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $8.04 per share, with a total value of $112,560.00. Following the completion of the purchase, the chief executive officer now directly owns 102,241 shares in the company, valued at $822,017.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Reeves acquired 14,900 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $8.32 per share, with a total value of $123,968.00. Following the completion of the purchase, the insider now owns 44,631 shares of the company’s stock, valued at $371,329.92. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Lumber Liquidators during the second quarter worth $1,910,000. KBC Group NV grew its stake in shares of Lumber Liquidators by 9.8% during the second quarter. KBC Group NV now owns 50,613 shares of the specialty retailer’s stock worth $585,000 after purchasing an additional 4,535 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Lumber Liquidators during the second quarter worth $481,000. Advisory Services Network LLC acquired a new stake in shares of Lumber Liquidators during the second quarter worth $82,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Lumber Liquidators during the second quarter worth $1,931,000. 83.35% of the stock is owned by institutional investors and hedge funds.

Lumber Liquidators Company Profile

Lumber Liquidators Holdings, Inc, together with its subsidiaries, operates as a multi-channel specialty retailer of hard-surface flooring, and hard-surface flooring enhancements and accessories. The company offers hardwood species, engineered hardwood, laminates, resilient vinyl flooring, waterproof vinyl plank, and porcelain tile; renewable flooring, and bamboo and cork products; and a selection of flooring enhancements and accessories, including moldings, noise-reducing underlay, adhesives, and flooring tools under the Bellawood brand.

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