Lifetime Brands (NASDAQ:LCUT) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Lifetime Brands, Inc. (NASDAQ:LCUT) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.72 and traded as high as $9.68. Lifetime Brands shares last traded at $9.26, with a volume of 176,053 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on LCUT shares. Canaccord Genuity Group boosted their price target on Lifetime Brands from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Roth Mkm restated a “buy” rating and set a $8.00 price target on shares of Lifetime Brands in a research note on Monday, May 11th. Zacks Research upgraded Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Lifetime Brands Stock Performance

The company has a market capitalization of $195.37 million, a P/E ratio of -6.73, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The firm has a 50 day moving average price of $6.76 and a two-hundred day moving average price of $4.76. 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 (NASDAQ:LCUT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, beating 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 company had revenue of $143.51 million for the quarter, compared to analyst estimates of $137.58 million. On average, research analysts expect that Lifetime Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Lifetime Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.0425 dividend. This represents a $0.17 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Lifetime Brands’s dividend payout ratio is currently -13.39%.

Institutional Investors Weigh In On Lifetime Brands

Several large investors have recently modified their holdings of LCUT. Royce & Associates LP bought a new stake in shares of Lifetime Brands in the 3rd quarter valued at approximately $41,000. Qube Research & Technologies Ltd bought a new stake in Lifetime Brands during the 2nd quarter worth approximately $88,000. Arrowstreet Capital Limited Partnership bought a new stake in Lifetime Brands during the 3rd quarter worth approximately $118,000. Bank of America Corp DE increased its holdings in Lifetime Brands by 39.0% during the 1st quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock valued at $119,000 after purchasing an additional 5,809 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Lifetime Brands by 388.4% during the 4th 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 in the last quarter. 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.