Lumber Liquidators (NYSE:LL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $35.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.93% from the stock’s previous close.
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 brokerages also recently commented on LL. TheStreet downgraded shares of Lumber Liquidators from a “c” rating to a “d+” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies set a $32.00 target price on shares of Lumber Liquidators and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley upped their target price on shares of Lumber Liquidators from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, October 2nd. Oppenheimer restated a “buy” rating on shares of Lumber Liquidators in a research note on Wednesday, October 25th. Finally, Wedbush upped their target price on shares of Lumber Liquidators from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.89.
Shares of Lumber Liquidators (LL) traded up $0.02 during mid-day trading on Wednesday, reaching $31.27. 1,013,300 shares of the company’s stock were exchanged, compared to its average volume of 822,767. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.84 and a quick ratio of 0.21. The company has a market cap of $890.73, a P/E ratio of -19.07, a P/E/G ratio of 1.40 and a beta of 2.05. Lumber Liquidators has a twelve month low of $14.99 and a twelve month high of $41.33.
Several institutional investors and hedge funds have recently made changes to their positions in LL. Captrust Financial Advisors purchased a new stake in shares of Lumber Liquidators in the 2nd quarter worth approximately $118,000. SG Americas Securities LLC purchased a new stake in shares of Lumber Liquidators in the 3rd quarter worth approximately $161,000. Aperio Group LLC purchased a new stake in shares of Lumber Liquidators in the 2nd quarter worth approximately $204,000. Crossmark Global Holdings Inc. purchased a new stake in Lumber Liquidators during the third quarter valued at approximately $218,000. Finally, BNP Paribas Arbitrage SA lifted its position in Lumber Liquidators by 13.4% during the second quarter. BNP Paribas Arbitrage SA now owns 8,732 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 1,035 shares during the last quarter. 78.86% of the stock is owned by hedge funds and other institutional investors.
About Lumber Liquidators
Lumber Liquidators Holdings, Inc is a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. The Company offers hardwood species, engineered hardwood, laminate and resilient vinyl flooring direct to the consumer. Its product categories include Solid and Engineered Hardwood; Laminate; Bamboo, Cork, Vinyl Plank and Other, Moldings and Accessories, and Non-Merchandise Services.
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