Canaccord Genuity Group Cuts Lifetime Brands (NASDAQ:LCUT) Price Target to $9.00

Lifetime Brands (NASDAQ:LCUT) had its price objective dropped by investment analysts at Canaccord Genuity Group from $10.00 to $9.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 42.86% from the company’s previous close.

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

Lifetime Brands Stock Performance

Lifetime Brands stock opened at $6.30 on Friday. The business has a 50 day moving average of $6.71 and a 200-day moving average of $8.42. The company has a market capitalization of $139.06 million, a P/E ratio of -23.33, a P/E/G ratio of 0.63 and a beta of 1.25. Lifetime Brands has a 1 year low of $4.96 and a 1 year high of $11.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.35 and a quick ratio of 0.92.

Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Lifetime Brands had a negative net margin of 2.58% and a positive return on equity of 4.51%. The business had revenue of $141.67 million for the quarter, compared to the consensus estimate of $41.90 million. During the same period in the previous year, the business posted ($0.02) EPS. On average, equities research analysts predict that Lifetime Brands will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LCUT. Mackenzie Financial Corp bought a new stake in Lifetime Brands in the second quarter worth approximately $87,000. Rhumbline Advisers raised its stake in Lifetime Brands by 579.0% during the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock worth $113,000 after buying an additional 11,233 shares during the period. Squarepoint Ops LLC raised its position in shares of Lifetime Brands by 28.5% during the second quarter. Squarepoint Ops LLC now owns 20,621 shares of the company’s stock worth $177,000 after purchasing an additional 4,575 shares during the period. Heron Bay Capital Management grew its position in Lifetime Brands by 81.1% in the 1st quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock valued at $196,000 after purchasing an additional 8,369 shares during the period. Finally, Chemistry Wealth Management LLC acquired a new position in Lifetime Brands during the first quarter worth $235,000. 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.