Lifetime Brands (NASDAQ:LCUT) Stock Price Crosses Above 200 Day Moving Average on Analyst Downgrade

Lifetime Brands, Inc. (NASDAQ:LCUT) shares passed above its 200-day moving average during trading on Monday after Weiss Ratings upgraded the stock from a sell (d-) rating to a hold (c) rating. The stock has a 200-day moving average of $8.24 and traded as high as $9.72. Lifetime Brands shares last traded at $9.54, with a volume of 174,672 shares trading hands.

Several other research firms have also recently commented on LCUT. Canaccord Genuity Group upped their target price on shares of Lifetime Brands from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Roth Capital restated a “buy” rating and issued a $12.00 price target on shares of Lifetime Brands in a research report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lifetime Brands currently has an average rating of “Hold” and an average target price of $9.50.

Insider Buying and Selling

In related news, Director Jeffrey Siegel sold 11,560 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $9.53, for a total value of $110,166.80. Following the completion of the transaction, the director directly owned 1,166,337 shares of the company’s stock, valued at $11,115,191.61. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 22,423 shares of company stock valued at $213,176 over the last three months. 44.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lifetime Brands

A number of hedge funds have recently made changes to their positions in LCUT. Public Employees Retirement System of Ohio bought a new position in shares of Lifetime Brands during the 2nd quarter worth approximately $61,000. AXQ Capital LP acquired a new position in Lifetime Brands during the second quarter worth $93,000. Deutsche Bank AG bought a new position in shares of Lifetime Brands during the second quarter valued at $102,000. Bank of America Corp DE lifted its holdings 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 valued at $119,000 after acquiring an additional 5,809 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Lifetime Brands during the second quarter valued at $123,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

Lifetime Brands Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 2.11. The company’s 50 day moving average price is $9.04 and its 200 day moving average price is $8.27. The company has a market cap of $196.79 million, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.33 and a beta of 1.01.

Lifetime Brands (NASDAQ:LCUT) last announced its earnings results on Thursday, August 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $1.39. Lifetime Brands had a net margin of 4.81% and a return on equity of 26.39%. The business had revenue of $141.57 million during the quarter, compared to analysts’ expectations of $136.64 million. On average, equities research analysts predict that Lifetime Brands, Inc. will post 2.08 earnings per share for the current fiscal year.

Lifetime Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.0425 dividend. This represents a $0.17 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, October 30th. Lifetime Brands’s dividend payout ratio (DPR) is presently 11.89%.

Lifetime Brands Company Profile

Lifetime Brands, Inc designs, sources, and markets a broad range of kitchenware, tabletop products, and household tools. Its offerings include cookware, bakeware, cutlery, kitchen gadgets, food storage products, barware, and dining and serving items for consumers and foodservice customers.

The company sells products under a portfolio of owned and licensed brands, including Farberware, KitchenAid, Mikasa, Pfaltzgraff, Taylor, and Kitchara, among others. It distributes its products through mass merchants, department and specialty stores, warehouse clubs, e-commerce channels, and other retail outlets.

Lifetime Brands serves markets primarily in the United States and Canada, with additional international distribution.