Lifetime Brands (NASDAQ:LCUT) Price Target Cut to $4.00 by Analysts at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its price objective dropped by equities research analysts at Canaccord Genuity Group from $5.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 30.72% from the stock’s previous close.

A number of other brokerages have also weighed in on LCUT. Wall Street Zen lowered shares of Lifetime Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Zacks Research downgraded Lifetime Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifetime Brands in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $5.00.

Lifetime Brands Stock Performance

LCUT stock traded up $0.01 during mid-day trading on Friday, hitting $3.06. The company had a trading volume of 18,269 shares, compared to its average volume of 60,697. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.94 and a current ratio of 2.65. The firm has a market cap of $68.59 million, a PE ratio of -1.92 and a beta of 1.53. The stock’s fifty day moving average price is $3.71 and its two-hundred day moving average price is $3.88. Lifetime Brands has a 12 month low of $2.89 and a 12 month high of $7.05.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $171.91 million during the quarter, compared to analyst estimates of $178.76 million. Lifetime Brands had a positive return on equity of 0.12% and a negative net margin of 5.16%. On average, analysts forecast that Lifetime Brands will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LCUT. Bank of New York Mellon Corp increased its holdings in Lifetime Brands by 270.1% in the 1st quarter. Bank of New York Mellon Corp now owns 140,710 shares of the company’s stock worth $694,000 after buying an additional 102,691 shares in the last quarter. Nuveen LLC bought a new stake in shares of Lifetime Brands in the first quarter worth approximately $82,000. JB Capital Partners LP boosted its holdings in Lifetime Brands by 16.0% in the first quarter. JB Capital Partners LP now owns 1,447,621 shares of the company’s stock worth $7,050,000 after purchasing an additional 199,500 shares during the last quarter. Empowered Funds LLC raised its stake in Lifetime Brands by 7.3% during the 1st 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 last quarter. Finally, SageView Advisory Group LLC lifted its holdings in shares of Lifetime Brands by 60.4% during the 1st quarter. SageView Advisory Group LLC now owns 55,546 shares of the company’s stock valued at $274,000 after buying an additional 20,906 shares during the period. 40.62% of the stock is owned by institutional investors.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.