Lifetime Brands (NASDAQ:LCUT) Stock Price Crosses Above 200 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 $5.40 and traded as high as $8.72. Lifetime Brands shares last traded at $8.19, with a volume of 172,521 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LCUT. Canaccord Genuity Group lifted their target price on Lifetime Brands from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Zacks Research raised Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Roth Mkm reiterated a “buy” rating and issued a $8.00 price target on shares of Lifetime Brands in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Lifetime Brands Price Performance

The firm has a market capitalization of $189.66 million, a price-to-earnings ratio of -6.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 2.93 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average is $7.92 and its two-hundred day moving average is $5.46.

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

Lifetime Brands Announces Dividend

The business 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 dividend of $0.0425 per share. The ex-dividend date is Friday, July 31st. This represents a $0.17 dividend on an annualized basis and a yield of 2.0%. Lifetime Brands’s dividend payout ratio (DPR) is -13.39%.

Institutional Trading of Lifetime Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP bought a new position in Lifetime Brands during the 3rd quarter worth approximately $41,000. Qube Research & Technologies Ltd acquired a new position in Lifetime Brands during the second quarter valued at approximately $88,000. Bank of America Corp DE increased its stake in Lifetime Brands by 39.0% in the first quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock valued at $119,000 after purchasing an additional 5,809 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Lifetime Brands in the third quarter worth $118,000. Finally, Jane Street Group LLC raised its holdings in Lifetime Brands by 388.4% in the fourth quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock worth $205,000 after purchasing an additional 41,191 shares during the period. 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.