NEW YORK (TheStreet) -- Shares of Tile Shop Holdings Inc. (TTS) are plunging -5.46% to $12.29 in pre-market trading on Thursday after Credit Suisse (CS) lowered its price target and cut its 2014-2016 earnings per share estimates following "much weaker than expected results" at Lumber Liquidators (LL).
Credit Suisse cut its price target on Tile Shop to $16 from $18, and lowered earnings per share estimates on fiscal year 2014 to 37 cents from 40 cents.
It cut 2015 estimates to 51 cents from 54 cents, and cut 2016 estimates to 69 cents from 71 cents, citing weaker housing-related trends as a factor.
Separately, TheStreet Ratings team rates TILE SHOP HOLDINGS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TILE SHOP HOLDINGS INC (TTS) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and premium valuation."