Lumber Liquidators' (Toano, Va.) stock price rose Thursday on an upgrade from one analyst who switched the company's rating from "hold" to "buy," according to an article by the Associated Press posted on Forbes.com. According to the article, "Despite a tough economic environment, Lumber Liquidators has been able to grow its business. In the years since the industry's 2005 peak during the housing boom, the company's sales have jumped from $245 million to $620 million and it has nearly tripled the number of its stores." Analyst John Baugh of Stifel Nicolaus further explained that Lumber Liquidators' real competitors are small, independent floor covering outlets, not home centers, and that this represents an "on-going opportunity" for the company to gain market share.
Log in to view the full article
