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

Lifetime Brands, Inc. (NASDAQ:LCUT)’s stock price 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 changing hands.

A number of other research analysts have also commented on LCUT. Canaccord Genuity Group upped their price target 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. Zacks Research raised shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Roth Capital restated a “buy” rating and set a $12.00 price objective on shares of Lifetime Brands in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Lifetime Brands currently has a consensus rating of “Hold” and an average target price of $9.50.

Insiders Place Their Bets

In other news, Director Jeffrey Siegel sold 7,359 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $9.51, for a total value of $69,984.09. Following the completion of the transaction, the director directly owned 1,158,978 shares in the company, valued at approximately $11,021,880.78. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 22,423 shares of company stock worth $213,176 over the last three months. Corporate insiders own 44.40% of the company’s stock.

Institutional Trading of Lifetime Brands

Large investors have recently made changes to their positions in the company. JB Capital Partners LP bought a new stake in shares of Lifetime Brands during the 2nd quarter worth $13,820,463. BlackRock Inc. acquired a new stake in Lifetime Brands in the second quarter valued at about $8,092,000. Martin & Co. Inc. TN bought a new position in Lifetime Brands in the second quarter valued at about $3,799,000. Empowered Funds LLC bought a new position in Lifetime Brands in the second quarter valued at about $1,139,000. Finally, Renaissance Technologies LLC grew its position in Lifetime Brands by 14.3% in the first quarter. Renaissance Technologies LLC now owns 116,765 shares of the company’s stock valued at $670,000 after acquiring an additional 14,614 shares during the last quarter. Institutional investors and hedge funds own 40.62% of the company’s stock.

Lifetime Brands Trading Down 7.3%

The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization 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. The business’s 50 day moving average price is $9.04 and its two-hundred day moving average price is $8.27.

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

Lifetime Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands’s dividend payout ratio is presently 11.89%.

About Lifetime Brands

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.