Lifetime Brands (NASDAQ:LCUT) Lowered to “Neutral” Rating by DA Davidson

DA Davidson cut shares of Lifetime Brands (NASDAQ:LCUT) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat reports. They currently have $6.75 price target on the stock, down from their previous price target of $11.50.

A number of other analysts have also recently weighed in on LCUT. Canaccord Genuity Group lowered their target price on shares of Lifetime Brands from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. StockNews.com raised Lifetime Brands from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd.

Lifetime Brands Stock Performance

Shares of NASDAQ LCUT opened at $5.78 on Monday. Lifetime Brands has a 52-week low of $5.25 and a 52-week high of $11.68. The stock has a market capitalization of $128.08 million, a price-to-earnings ratio of -5.84, a PEG ratio of 0.63 and a beta of 1.28. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $6.00 and its 200 day simple moving average is $6.47.

Lifetime Brands (NASDAQ:LCUT) last issued its earnings results on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). Lifetime Brands had a negative net margin of 3.19% and a positive return on equity of 3.13%. The business had revenue of $183.84 million during the quarter, compared to analyst estimates of $193.90 million. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, sell-side analysts forecast that Lifetime Brands will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Lifetime Brands

A number of hedge funds have recently added to or reduced their stakes in LCUT. Jane Street Group LLC acquired a new stake in Lifetime Brands in the third quarter valued at $67,000. Mackenzie Financial Corp bought a new position in shares of Lifetime Brands during the second quarter worth about $87,000. BNP Paribas Financial Markets lifted its stake in shares of Lifetime Brands by 657.8% in the third quarter. BNP Paribas Financial Markets now owns 18,096 shares of the company’s stock worth $118,000 after acquiring an additional 15,708 shares during the period. Barclays PLC lifted its stake in shares of Lifetime Brands by 38.7% in the third quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after acquiring an additional 5,302 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Lifetime Brands in the third quarter valued at approximately $128,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

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.