Tile Shop price target lowered to $17 from $25 at Wedbush Wedbush reduced its price target on Tile Shop after the company's preliminary Q4 results came in below expectations. But the firm is still upbeat on the company's tiles and expects the company to be the dominant leader in the tile shop industry. Wedbush also believes that appropriate action has been taken to deal with the issues relating to the CEO's brother-in-law, and it keeps an Outperform rating on the stock.
Tile Shop raises FY15 adjusted EPS view to 28c-33c from 27c-33c Consensus 31c. Tile Shop raises FY15 revenue view to $280M-$290M from $275M-$290M, consensus $285.64M. Gross Margin percentage of net sales is seen at approximately 69%. The updated guidance is based on past performance, anticipated new store openings and current economic conditions.