Lifetime Brands (NASDAQ:LCUT) Downgraded to Hold at StockNews.com

Lifetime Brands (NASDAQ:LCUT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other brokerages have also recently commented on LCUT. Canaccord Genuity Group dropped their price objective on shares of Lifetime Brands from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday. DA Davidson lifted their price target on shares of Lifetime Brands from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Monday, August 12th.

Lifetime Brands Price Performance

Shares of NASDAQ:LCUT traded down $0.15 on Monday, reaching $6.15. The company’s stock had a trading volume of 53,561 shares, compared to its average volume of 76,859. Lifetime Brands has a 52-week low of $4.96 and a 52-week high of $11.68. The company has a market cap of $135.75 million, a P/E ratio of -22.78, a PEG ratio of 0.63 and a beta of 1.25. The company has a 50-day simple moving average of $6.70 and a 200 day simple moving average of $8.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 2.35.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Lifetime Brands had a positive return on equity of 4.51% and a negative net margin of 2.58%. The business had revenue of $141.67 million during the quarter, compared to analysts’ expectations of $41.90 million. During the same period in the previous year, the business earned ($0.02) earnings per share. As a group, equities research analysts anticipate that Lifetime Brands will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Lifetime Brands

A number of large investors have recently made changes to their positions in LCUT. American Century Companies Inc. boosted its stake in shares of Lifetime Brands by 88.0% during the 2nd quarter. American Century Companies Inc. now owns 161,252 shares of the company’s stock worth $1,385,000 after purchasing an additional 75,475 shares during the period. Empowered Funds LLC purchased a new stake in Lifetime Brands in the 1st quarter valued at about $726,000. Acadian Asset Management LLC boosted its position in Lifetime Brands by 20.4% in the 2nd quarter. Acadian Asset Management LLC now owns 318,957 shares of the company’s stock valued at $2,737,000 after buying an additional 54,142 shares during the period. Panagora Asset Management Inc. purchased a new stake in Lifetime Brands in the 2nd quarter valued at about $450,000. Finally, Dimensional Fund Advisors LP boosted its position in Lifetime Brands by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,375 shares of the company’s stock valued at $10,449,000 after buying an additional 38,471 shares during the period. 40.62% of the stock is owned by hedge funds and other 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.