Lifetime Brands (NASDAQ:LCUT) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Lifetime Brands (NASDAQ:LCUT) had its target price raised by equities researchers at Canaccord Genuity Group from $6.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential downside of 17.45% from the company’s previous close.

A number of other research analysts also recently issued reports on LCUT. Zacks Research downgraded Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday, July 6th. Roth Capital lifted their price target on shares of Lifetime Brands from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.50.

Lifetime Brands Price Performance

Shares of Lifetime Brands stock opened at $8.48 on Wednesday. The stock has a market cap of $193.77 million, a P/E ratio of -6.68, a P/E/G ratio of 0.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.26 and a current ratio of 2.93. The stock’s fifty day moving average is $8.55 and its 200 day moving average is $6.11. Lifetime Brands has a one year low of $2.90 and a one year high of $9.80.

Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.22. Lifetime Brands had a positive return on equity of 8.01% and a negative net margin of 4.22%.The business had revenue of $143.51 million during the quarter, compared to analyst estimates of $137.58 million. Sell-side analysts anticipate that Lifetime Brands will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCUT. Qube Research & Technologies Ltd purchased a new stake in Lifetime Brands during the 2nd quarter valued at approximately $88,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Lifetime Brands during the third quarter worth $118,000. Bank of America Corp DE boosted its position in shares of Lifetime Brands by 39.0% during the first quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock worth $119,000 after acquiring an additional 5,809 shares during the last quarter. Jane Street Group LLC grew its stake in Lifetime Brands by 388.4% during the fourth quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock valued at $205,000 after acquiring an additional 41,191 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Lifetime Brands by 7.3% in the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock valued at $535,000 after acquiring an additional 7,385 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors.

About Lifetime Brands

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.