NEW YORK (TheStreet) -- Shares of Lumber Liquidators Holdings Inc. (LL) are plunging -15.65% to $59.17 in after-hours trading on Wednesday after it lowered guidance for the full year 2014, and said it now expects net sales in the range of $1.05 billion to $1.10 billion, down from its previous range of $1.15 billion to $1.20 billion.
It also lowered its fiscal year earnings per share estimate to a range of $2.65 to $3.00, from $3.25 to $3.60.
The retailer of hardwood flooring said,"reduced customer traffic has coincided with certain weak macroeconomic trends related to residential remodeling, including existing home sales, which have generally been lower in 2014 than the corresponding periods in 2013."
Separately The Street Ratings Team has this to say about their recommendation:
"We rate LUMBER LIQUIDATORS HLDGS INC (LL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."