Lifetime Brands (NASDAQ:LCUT) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group raised its price target on Lifetime Brands to $7 from $6, while keeping a hold rating; the new target still implies downside from the current share price.
• Analyst views are mixed overall, with recent actions including a buy rating and higher target from Roth Capital, upgrades from Wall Street Zen, and downgrades or sell calls from Zacks Research and Weiss Ratings.
• Lifetime Brands recently beat earnings expectations, reporting $0.04 EPS versus an expected loss and revenue of $143.51 million; the company also has a market cap of about $193.5 million and institutional ownership of 40.62%.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) had its price target increased by research analysts at Canaccord Genuity Group from $6.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Canaccord Genuity Group's price target would suggest a potential downside of 17.36% from the company's current price.

A number of other analysts also recently commented on LCUT. Roth Capital raised their price objective on Lifetime Brands from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Wall Street Zen upgraded Lifetime Brands from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th. Zacks Research lowered Lifetime Brands from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lifetime Brands in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.50.

Lifetime Brands Stock Performance

NASDAQ:LCUT opened at $8.47 on Wednesday. The firm's 50-day moving average is $8.50 and its 200-day moving average is $6.04. Lifetime Brands has a 52-week low of $2.90 and a 52-week high of $9.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.26 and a current ratio of 2.93. The company has a market cap of $193.54 million, a price-to-earnings ratio of -6.67, a PEG ratio of 0.85 and a beta of 1.00.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last released its earnings results 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 negative net margin of 4.22% and a positive return on equity of 8.01%. The business had revenue of $143.51 million during the quarter, compared to analysts' expectations of $137.58 million. Equities research analysts anticipate that Lifetime Brands will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Lifetime Brands

A number of institutional investors have recently added to or reduced their stakes in LCUT. Renaissance Technologies LLC grew its stake in shares of Lifetime Brands by 14.3% in the 1st quarter. Renaissance Technologies LLC now owns 116,765 shares of the company's stock valued at $670,000 after purchasing an additional 14,614 shares during the period. Bank of America Corp DE lifted its position in shares of Lifetime Brands by 39.0% during the 1st quarter. Bank of America Corp DE now owns 20,722 shares of the company's stock worth $119,000 after buying an additional 5,809 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Lifetime Brands during the 2nd quarter worth approximately $88,000. Arrowstreet Capital Limited Partnership acquired a new stake in Lifetime Brands in the 3rd quarter valued at $118,000. Finally, Jane Street Group LLC boosted its stake in Lifetime Brands by 388.4% in the 4th quarter. Jane Street Group LLC now owns 51,795 shares of the company's stock valued at $205,000 after buying an additional 41,191 shares in the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

Lifetime Brands Company Profile

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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