NEW YORK (TheStreet) -- Shares of Lumber Liquidators Holdings Inc. (LL) are falling -20.62% to $55.90 in pre-market trading on Thursday after the company announced it cut its earnings outlook for the full year 2014.
The hardwood flooring, and accessories retailer is expecting full year 2014 earnings per diluted share between $2.65 and $3.00, compared to its previous guidance of $3.25 to $3.60.
Lumber Liquidators is expecting net sales for 2014 to be between $1.05 billion and $1.10 billion versus its original estimate of revenue between $1.15 billion and $1.20 billion.
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Additionally, Credit Suisse (CS) downgraded Lumber Liquidators to "neutral" from "outperform," and cut its price target on the stock to $65 from $100, due to its new full year 2014 guidance, and concern regarding a slowdown in growth.
Separately, TheStreet Ratings team rates LUMBER LIQUIDATORS HLDGS INC as a Buy with a ratings score of B. TheStreet 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."