Lumber Liquidators (LL): Patience Required But Comps Turn Positive - Jefferies
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Jefferies analyst, Daniel Binder, reiterated his Buy rating on shares of Lumber Liquidators (NYSE: LL) and raised his price target to $14.50 from $13.60 after comps turned positive for the first time in almost 3 years, but GM% disappointed and SG&A costs took a step up in advertising and payroll.
Price and mix shifts continue to help margins, but growth in lower-GM% installation services and expenses related to assortment refresh are keeping margin expansion in check in the near term. Investors will have to remain patient as management works toward a balance of sales growth and profitability.
Shares of Lumber Liquidators closed at $15.51 yesterday.
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