Lifetime Brands (NASDAQ:LCUT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Lifetime Brands, Inc. (NASDAQ:LCUT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.01 and traded as high as $8.74. Lifetime Brands shares last traded at $8.73, with a volume of 83,708 shares traded.

Analysts Set New Price Targets

LCUT has been the topic of several recent research reports. Wall Street Zen raised shares of Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Canaccord Genuity Group boosted their price target on shares of Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Lifetime Brands in a report on Monday, July 6th. Zacks Research cut shares of Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, Roth Capital lifted their target price on shares of Lifetime Brands from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.50.

Lifetime Brands Stock Performance

The stock has a market cap of $197.47 million, a P/E ratio of -6.80, a PEG ratio of 0.85 and a beta of 1.00. The stock has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $6.04. The company has a quick ratio of 1.26, a current ratio of 2.93 and a debt-to-equity ratio of 0.82.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $137.58 million. Equities analysts expect that Lifetime Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Lifetime Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.0425 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.17 annualized dividend and a yield of 2.0%. Lifetime Brands’s dividend payout ratio (DPR) is -13.39%.

Hedge Funds Weigh In On Lifetime Brands

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

Lifetime Brands Company Profile

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.