Lifetime Brands (NASDAQ:LCUT) Rating Increased to Strong Sell at Zacks Research

Key Points

• Lifetime Brands' stock rating has been upgraded to a "strong sell" by Zacks Research, indicating a negative outlook from analysts.
• The company reported a quarterly EPS of ($0.50), significantly missing analysts' estimates, along with a revenue of $131.86 million, also below expectations.
• Several hedge funds have increased their stakes in Lifetime Brands during the second quarter, with 40.62% of the stock owned by institutional investors.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) was upgraded by research analysts at Zacks Research to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on LCUT. Canaccord Genuity Group dropped their price target on Lifetime Brands from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen cut Lifetime Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Lifetime Brands Trading Down 1.3%

NASDAQ LCUT opened at $3.90 on Tuesday. Lifetime Brands has a 1-year low of $2.89 and a 1-year high of $7.72. The company has a current ratio of 2.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $4.37 and a 200-day moving average of $4.40. The firm has a market cap of $87.40 million, a PE ratio of -2.45 and a beta of 1.63.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.33). The business had revenue of $131.86 million for the quarter, compared to the consensus estimate of $138.25 million. Lifetime Brands had a negative net margin of 5.16% and a positive return on equity of 0.12%. As a group, sell-side analysts forecast that Lifetime Brands will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Lifetime Brands

Several hedge funds have recently modified their holdings of LCUT. Ameriprise Financial Inc. lifted its stake in Lifetime Brands by 16.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company's stock valued at $4,634,000 after buying an additional 130,650 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Lifetime Brands during the 2nd quarter worth approximately $2,054,000. Qube Research & Technologies Ltd acquired a new stake in shares of Lifetime Brands during the 2nd quarter worth approximately $88,000. JB Capital Partners LP boosted its position in shares of Lifetime Brands by 9.0% during the 2nd quarter. JB Capital Partners LP now owns 1,577,852 shares of the company's stock worth $7,968,000 after purchasing an additional 130,231 shares during the period. Finally, Martin & Co. Inc. TN boosted its position in shares of Lifetime Brands by 1.3% during the 2nd quarter. Martin & Co. Inc. TN now owns 525,757 shares of the company's stock worth $2,681,000 after purchasing an additional 6,943 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.

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