Goldman Sachs Keeps Buy on Lumber Liquidators (LL) Despite Setbacks
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Price: $0.84 --0%
Rating Summary:
6 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
6 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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Goldman Sachs lowered its price target on Buy-rated Lumber Liquidators (NYSE: LL) from $24 to $23 despite the Q4 miss, saying despite some small setbacks and strategic twists, the key elements on the story remain intact.
The firm notes that the company is pursuing a "trading sales for profits" strategy by cutting store growth in half, to roughly 9% in 2012 from 18% in 2011. Also Sourcing improvements are meeting the firm's forecasts. Goldman said the year ended on a strong note, and 2012 has commenced with sales at the high end of plan. Also inventory turnover improved materially and the transition of senior management is largely complete.
The firm trimmed FY12 EPS form $1.20 to $1.18, FY13 from $1.42 to $1.42 and introduced FY13 of $1.58.
For an analyst ratings summary and ratings history on Lumber Liquidators click here. For more ratings news on Lumber Liquidators click here.
Shares of Lumber Liquidators closed at $19.17 yesterday.
The firm notes that the company is pursuing a "trading sales for profits" strategy by cutting store growth in half, to roughly 9% in 2012 from 18% in 2011. Also Sourcing improvements are meeting the firm's forecasts. Goldman said the year ended on a strong note, and 2012 has commenced with sales at the high end of plan. Also inventory turnover improved materially and the transition of senior management is largely complete.
The firm trimmed FY12 EPS form $1.20 to $1.18, FY13 from $1.42 to $1.42 and introduced FY13 of $1.58.
For an analyst ratings summary and ratings history on Lumber Liquidators click here. For more ratings news on Lumber Liquidators click here.
Shares of Lumber Liquidators closed at $19.17 yesterday.
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