Wall Street Zen Downgrades Lifetime Brands (NASDAQ:LCUT) to Sell

Key Points

• Lifetime Brands has been downgraded from a "hold" to a "sell" rating by Wall Street Zen.
• Canaccord Genuity has reduced their price target for Lifetime Brands from $6.00 to $5.00, while maintaining a "buy" rating.
• The company reported a quarterly loss of ($0.50) EPS, which fell short of the consensus estimate by ($0.33).

Lifetime Brands (NASDAQ:LCUT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Canaccord Genuity Group cut their target price on Lifetime Brands from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, August 8th.

Lifetime Brands Price Performance

Shares of NASDAQ:LCUT traded up $0.02 during midday trading on Friday, reaching $4.10. 9,092 shares of the company's stock traded hands, compared to its average volume of 71,154. Lifetime Brands has a 1 year low of $2.89 and a 1 year high of $7.72. The company has a market cap of $91.77 million, a P/E ratio of -2.57, a PEG ratio of 1.86 and a beta of 1.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.94 and a current ratio of 2.65. The company has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.42.

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

Institutional Trading of Lifetime Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JB Capital Partners LP increased its position in shares of Lifetime Brands by 16.0% during the 1st quarter. JB Capital Partners LP now owns 1,447,621 shares of the company's stock worth $7,050,000 after purchasing an additional 199,500 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lifetime Brands by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,260,722 shares of the company's stock worth $7,450,000 after purchasing an additional 21,139 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in shares of Lifetime Brands during the 2nd quarter worth about $904,000. Bank of New York Mellon Corp increased its position in shares of Lifetime Brands by 270.1% during the 1st quarter. Bank of New York Mellon Corp now owns 140,710 shares of the company's stock worth $694,000 after purchasing an additional 102,691 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Lifetime Brands by 22.5% during the 4th quarter. Northern Trust Corp now owns 133,160 shares of the company's stock worth $787,000 after purchasing an additional 24,445 shares during the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

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.