Lifetime Brands (NASDAQ:LCUT) Price Target Cut to $9.00 by Analysts at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its price objective trimmed by Canaccord Genuity Group from $10.00 to $9.00 in a report released on Friday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the stock. DA Davidson raised their target price on shares of Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a report on Monday, August 12th. StockNews.com cut shares of Lifetime Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Lifetime Brands Trading Down 2.4 %

Shares of NASDAQ:LCUT opened at $6.15 on Friday. The stock’s 50-day simple moving average is $6.70 and its two-hundred day simple moving average is $8.37. The stock has a market capitalization of $135.75 million, a price-to-earnings ratio of -22.78, a PEG ratio of 0.63 and a beta of 1.25. Lifetime Brands has a 52-week low of $4.96 and a 52-week high of $11.68. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $141.67 million for the quarter, compared to analysts’ expectations of $41.90 million. Lifetime Brands had a negative net margin of 2.58% and a positive return on equity of 4.51%. During the same period in the previous year, the firm earned ($0.02) earnings per share. Analysts expect that Lifetime Brands will post 0.7 EPS for the current year.

Lifetime Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.043 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, November 1st. Lifetime Brands’s payout ratio is presently -62.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp purchased a new position in shares of Lifetime Brands during the second quarter worth $87,000. Squarepoint Ops LLC lifted its holdings in shares of Lifetime Brands by 28.5% in the 2nd quarter. Squarepoint Ops LLC now owns 20,621 shares of the company’s stock valued at $177,000 after buying an additional 4,575 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Lifetime Brands by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 108,051 shares of the company’s stock valued at $928,000 after buying an additional 13,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Lifetime Brands by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,216,375 shares of the company’s stock worth $10,449,000 after buying an additional 38,471 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Lifetime Brands by 88.0% during the second quarter. American Century Companies Inc. now owns 161,252 shares of the company’s stock worth $1,385,000 after acquiring an additional 75,475 shares during the period. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Lifetime Brands Company Profile

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.