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

Lifetime Brands (NASDAQ:LCUT) had its target price raised by analysts at Canaccord Genuity Group from $6.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential downside of 17.36% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifetime Brands in a research report on Monday, July 6th. Roth Capital raised their price objective on shares of Lifetime Brands from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 13th. 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. Finally, Zacks Research lowered shares of Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.50.

Lifetime Brands Trading Down 3.0%

Shares of LCUT opened at $8.47 on Wednesday. The stock has a fifty day moving average price of $8.50 and a two-hundred day moving average price of $6.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.26 and a current ratio of 2.93. Lifetime Brands has a 52-week low of $2.90 and a 52-week high of $9.80. The company has a market cap of $193.54 million, a price-to-earnings ratio of -6.67, a PEG ratio of 0.85 and a beta of 1.00.

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

Hedge Funds Weigh In On Lifetime Brands

Several hedge funds have recently added to or reduced their stakes in the company. JB Capital Partners LP increased its position in Lifetime Brands by 2.5% in the fourth quarter. JB Capital Partners LP now owns 1,627,852 shares of the company’s stock worth $6,430,000 after purchasing an additional 40,000 shares during the period. Ameriprise Financial Inc. grew its position in shares of Lifetime Brands by 0.5% during the 3rd 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. Bridgeway Capital Management LLC grew its position in shares of Lifetime Brands by 3.8% during the 3rd quarter. Bridgeway Capital Management LLC now owns 243,414 shares of the company’s stock worth $942,000 after buying an additional 8,820 shares during the period. Renaissance Technologies LLC raised 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 worth $670,000 after buying an additional 14,614 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Lifetime Brands by 7.3% in the first quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock valued at $535,000 after buying an additional 7,385 shares during the period. Institutional investors own 40.62% of the company’s stock.

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.