NEW YORK (TheStreet) -- Shares of Lumber Liquidators Holdings Inc. (LL) are down 2.21% to $53.10 in pre-market trading on Tuesday after the company was downgraded to "hold" from "buy" at Canaccord Genuity.
The firm lowered the price target to $51 from $71 for the American hardwood flooring retail company.
Cannaccord also cut EPS estimates to $2.43 from $2.45 for fiscal 2014, and to $2.63 from $3.07 for fiscal 2015.
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The firm said it reduced the ratings for Lumber Liquidators Holdings because the company has consistently missed expectations and cut guidance.
"LL has faced numerous obstacles this year, including difficult weather, crippling, self-inflicted inventory constraints, and an overall slowdown in the flooring market," said Cannacord analysts Laura Champine and Jason Smith. "We have concerns regarding visibility as LL still has work to do to recover from the impact of the earlier inventory problems (higher clearance and discounting), while the flooring market has yet to show signs of a rebound."
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, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."