Lumber Liquidators beats Street 2Q forecasts

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Shares of hardwood flooring retailer Lumber Liquidators (LL) are catapulting early Tuesday on a surprise swing to a profit in the second quarter. Creative Planning now owns 20,205 shares of the specialty retailer's stock valued at $424,000 after buying an additional 6,100 shares during the last quarter. Revenue rose to $263.5 million from $238.1 million, above the FactSet consensus of $256.9 million, as same-store sales growth of 8.8% beat expectations of a 6.0% rise. Next quarter's EPS is forecasted to be $-0.08 and the next full year EPS is anticipated to be $0.29. The specialty retailer reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.19) by $0.02.

A number of hedge funds have recently made changes to their positions in LL. Texas Permanent School Fund boosted its stake in shares of Lumber Liquidators Holdings by 1.3% in the second quarter.

In the last earnings report the EPS was $-2.27 and is expected to be $-1.06 for the current year with 28,384,000 shares presently outstanding. Wall Street is only getting more bullish on the stock, with 3 of analysts who cover CRAY having a buy-equivalent rating. Russell Investments Group, Ltd. now owns 162,017 shares worth $4,060,000. The stock has performed -0.24% over the last seven days, -0.68% over the last thirty, and 1.23% over the last three months.

Ls Inv Advsrs Limited Liability Corporation reported 0% of its portfolio in Lumber Liquidators Holdings Inc (NYSE:LL).

Shares of Lumber Liquidators Holdings (LL) opened at 24.71 on Tuesday. Lumber Liquidators Holdings, Inc has a 52 week low of $14.02 and a 52 week high of $30.65. The firm's revenue for the quarter was up 6.4% compared to the same quarter a year ago.

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Lumber Liquidators has suffered several quarters of losses after a report in March 2015 alleged that its flooring products sourced from China contained high levels of formaldehyde, a cancer-causing chemical. The company has market cap of $700.24 million. Guggenheim Ltd Limited Liability Company stated it has 0% in Lumber Liquidators Holdings Inc (NYSE:LL). If you are viewing this report on another website, it was copied illegally and republished in violation of global trademark and copyright laws. Its last month's stock price volatility remained 5.22% which for the week stands at 4.11%. The insider Brennan Troyen A sold 23,849 shares worth $1.88M.

"Although we are pleased with the results in the quarter, we still have work to do", Dennis Knowles, CEO of Lumber Liquidators Holdings Inc, said in a statement. Dougherty & Co decreased their price target on Lumber Liquidators Holdings from $5.50 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, May 10th.

Other research analysts have also issued reports about the stock. Analyst's mean target price for LL is $21.64 while analysts mean recommendation is 2.80. Institutional investors and hedge funds own 73.39% of the company's stock. The New Jersey-based Kcg Holdg has invested 0.01% in Lumber Liquidators Holdings Inc (NYSE:LL).

Lumber Liquidators Holdings, Inc.is a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories. The Firm 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 and Vinyl Plank, and Moldings and Accessories.

Thirdly, the company's strong financial and operating performance and surge in traffic indicate that, after a tough couple of years, customers are starting to return to Lumber Liquidators as time puts the allegations further out of the public consciousness.

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