Lumber Liquidators, Inc. (LL) has been on a tear since reporting second-quarter earnings on Aug 5 that surprised on the Zacks Consensus Estimate by 8.7%.

The company, a hardwood flooring retailer with 170 stores, continues to grow. Sales increased in the second quarter by 11.8% to $143.1 million from $128 million a year ago. Comparable store sales, however, fell 1.8% but this was an improvement over the 5.8% year over year decline in the first quarter of 2009.

Despite the recession, the Lumber Liquidators opened 8 new stores during the second quarter.

Net income rose 18.1% to $6.9 million, or 25 cents per share, from $5.9 million, or 22 cents, in the year ago quarter. The Zacks Consensus Estimate called for 23 cents.

Full Year Guidance Raised

The company is optimistic going into the second half of the year as it sees some stabilization in the marketplace. It raised full year earnings per share to the range of 85 to 91 cents from the prior range of 76 cents to 86 cents.

As a result of the earnings report, all 4 covering analysts raised full year estimates in the last week. The 2009 Zacks Consensus Estimate now expects earnings per share of 90 cents.

Lumber Liquidators is now a Zacks #2 Rank (buy) stock but was a Zacks #1 Rank (strong buy) when Bill last reviewed it on June 11.

Read the June 11 article.

Chart

The stock has been hot. Since the June 11 article, it has busted through its 52-week high. See the trading action below.

1249675680.JPG

Update to Previous Aggressive Growth Zacks Rank Buy Stocks

MWI Veterinary Supply Inc. (MWIV) topped the Zacks consensus estimate and exceeded the company’s own expectations. Read the full article.

Churchill Downs Inc. (CHDN) remains sensitive to the economy but just beat Wall Street estimates with year-over-year growth. Read the full article.

CA, Inc. (CA) shares are surging after its latest quarterly report and updated guidance. Read the full article.

Hanger Orthopedic Group, Inc. (HGR) is seeing consistent year-over-year earnings growth and has just topped estimates on higher sales. Read the full article.

Zacks Investment Research