Lifetime Brands (NASDAQ:LCUT) Price Target Raised to $7.00

Lifetime Brands (NASDAQ:LCUT) had its price objective lifted by Canaccord Genuity Group from $6.00 to $7.00 in a research report report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

LCUT has been the topic of a number of other research reports. Roth Capital upped their target price on Lifetime Brands from $8.00 to $10.00 and gave the company a “buy” rating in a 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 report on Sunday, May 17th. Zacks Research downgraded shares of Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday, July 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.50.

Lifetime Brands Stock Performance

Shares of LCUT stock opened at $8.69 on Wednesday. The company has a market capitalization of $198.57 million, a price-to-earnings ratio of -6.84, a P/E/G ratio of 0.83 and a beta of 1.00. Lifetime Brands has a 1-year low of $2.90 and a 1-year high of $9.80. The company has a current ratio of 2.93, a quick ratio of 1.26 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $6.13.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.22. Lifetime Brands had a positive return on equity of 8.01% and a negative net margin of 4.22%.The firm had revenue of $143.51 million during the quarter, compared to the consensus estimate of $137.58 million. On average, sell-side analysts predict that Lifetime Brands will post 0.73 earnings per share for the current fiscal year.

Lifetime Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, July 31st. Lifetime Brands’s payout ratio is presently -13.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new position in Lifetime Brands in the 2nd quarter worth $88,000. Arrowstreet Capital Limited Partnership bought a new stake in Lifetime Brands during the third quarter valued at about $118,000. Bank of America Corp DE boosted its holdings in 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. Jane Street Group LLC grew its position 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 valued at $205,000 after purchasing an additional 41,191 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of 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 purchasing an additional 7,385 shares during the last quarter. 40.62% of the stock is currently owned by institutional investors and hedge funds.

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.