Market Overview

Lumber Liquidators Shares Limping Into Q1 Report


Lumber Liquidators Holdings Inc (NYSE: LL) shares are still limping from a damaging news report in February and the company is unlikely to report any significant surprise with first-quarter results Wednesday.

The building supply retailer pre-announced first-quarter sales April 2. Wall Street expects earnings of $0.16 a share on revenue of $258.01 million.

Following the pre-announcement, Piper Jaffray's Peter J. Keith maintained a Neutral rating on the company but said an analysis of social media suggested the company's reputation was recovering.

The February report by "60 Minutes" alleged that laminated flooring from China sold by Lumber Liquidators failed to meet indoor emissions standards concerning formaldehyde set by California regulators.

The company has disputed allegations in the report, which quoted Lumber Liquidators short-seller Whitney Tilson.

Cantor Fitzgerald's Laura Champine earlier this month launched coverage on Lumber Liquidators with a Buy rating and $45 target.

Champine said the company can eventually revive its sales momentum and market share gains, while its recently lowered share price is attractive.

Analysts maintain an average rating on the company of Overweight with a $41.18 target, according to FactSet.

Although Lumber Liquidators has gained some since its pre-announcement earlier this month, the shares remain off by about 45 percent since the February report.

Lumber Liquidators closed Tuesday at $33.42, up $0.27.

Latest Ratings for LL

Aug 2020Morgan StanleyMaintainsUnderweight
Aug 2020WedbushMaintainsNeutral
Jun 2020Morgan StanleyMaintainsUnderweight

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