Lifetime Brands (NASDAQ:LCUT) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Lifetime Brands (NASDAQ:LCUT) from a "strong-buy" to a "hold" rating in a report issued Wednesday.
• Analyst sentiment is mixed—one Buy, two Hold and one Sell—with a consensus rating of "Hold" and a consensus price target of $5.00.
• Lifetime Brands beat quarterly estimates with EPS of $1.05 (vs. $0.18 expected) and revenue of $204.1M, yet the stock traded down about 9.8% and opened at $7.30.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Roth Mkm started coverage on Lifetime Brands in a report on Friday, February 13th. They issued a "buy" rating and a $5.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Lifetime Brands in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group upped their price target on Lifetime Brands from $3.50 to $5.00 and gave the stock a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.00.

Lifetime Brands Trading Down 9.8%

Lifetime Brands stock opened at $7.30 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. The business's fifty day simple moving average is $4.56 and its two-hundred day simple moving average is $4.00. Lifetime Brands has a 12 month low of $2.89 and a 12 month high of $8.20. The company has a market capitalization of $165.35 million, a price-to-earnings ratio of -5.89, a price-to-earnings-growth ratio of 0.95 and a beta of 0.83.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.87. The firm had revenue of $204.07 million for the quarter, compared to the consensus estimate of $202.09 million. Lifetime Brands had a positive return on equity of 4.66% and a negative net margin of 4.16%. As a group, equities analysts predict that Lifetime Brands will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Lifetime Brands

Several institutional investors have recently made changes to their positions in LCUT. Royce & Associates LP purchased a new stake in shares of Lifetime Brands during the third quarter worth about $41,000. Qube Research & Technologies Ltd purchased a new stake in shares of Lifetime Brands during the second quarter worth about $88,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Lifetime Brands during the third quarter worth about $118,000. Jane Street Group LLC grew its position in shares of Lifetime Brands by 388.4% during the fourth quarter. Jane Street Group LLC now owns 51,795 shares of the company's stock worth $205,000 after purchasing an additional 41,191 shares in the last quarter. Finally, Teton Advisors LLC purchased a new position in Lifetime Brands during the 3rd quarter valued at approximately $381,000. Hedge funds and other institutional investors own 40.62% of the company's stock.

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.

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