Zacks Research Downgrades Lifetime Brands (NASDAQ:LCUT) to Hold
by Mitch Edgeman · The Markets DailyLifetime Brands (NASDAQ:LCUT – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.
LCUT has been the topic of several other research reports. Roth Capital restated a “buy” rating and issued a $8.00 price target on shares of Lifetime Brands in a research report on Monday, May 11th. Canaccord Genuity Group increased their price objective on shares of Lifetime Brands from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday. Finally, Wall Street Zen upgraded shares of Lifetime Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.00.
View Our Latest Research Report on LCUT
Lifetime Brands Price Performance
LCUT opened at $8.28 on Thursday. The company has a market cap of $189.20 million, a price-to-earnings ratio of -6.52, a price-to-earnings-growth ratio of 0.80 and a beta of 1.00. The stock has a fifty day simple moving average of $8.21 and a two-hundred day simple moving average of $5.80. The company has a current ratio of 2.93, a quick ratio of 1.26 and a debt-to-equity ratio of 0.82. Lifetime Brands has a 12-month low of $2.90 and a 12-month high of $9.80.
Lifetime Brands (NASDAQ:LCUT – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.22. The business had revenue of $143.51 million for the quarter, compared to the consensus estimate of $137.58 million. Lifetime Brands had a positive return on equity of 8.01% and a negative net margin of 4.22%. Research analysts predict that Lifetime Brands will post 0.73 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lifetime Brands
Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted 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 worth $119,000 after purchasing an additional 5,809 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lifetime Brands by 14.3% during the first quarter. Renaissance Technologies LLC now owns 116,765 shares of the company’s stock valued at $670,000 after buying an additional 14,614 shares during the last quarter. JB Capital Partners LP grew its stake in shares of Lifetime Brands by 2.5% during the fourth quarter. JB Capital Partners LP now owns 1,627,852 shares of the company’s stock valued at $6,430,000 after buying an additional 40,000 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of 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 buying an additional 41,191 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Lifetime Brands by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 913,425 shares of the company’s stock worth $3,535,000 after buying an additional 4,703 shares during the period. 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.