Lifetime Brands (NASDAQ:LCUT) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research downgraded shares of Lifetime Brands (NASDAQ:LCUT) from a buy rating to a strong sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Lifetime Brands is a leading designer, marketer and distributor of kitchenware, cutlery & cutting boards, bakeware & cookware, pantryware & spices, tabletop and bath accessories, marketing its products under various trade names, including Farberware, KitchenAid, Pfaltzgraff, Cuisinart, Hoffritz, Sabatier, Nautica, DBK-Daniel Boulud Kitchen, Joseph Abboud Environments, Roshco, Baker’s Advantage, Kamenstein, CasaModa, Kathy Ireland, and :USE. Lifetime’s products are distributed through almost every major retailer in the United States. “

A number of other analysts also recently commented on the company. DA Davidson started coverage on Lifetime Brands in a report on Tuesday, October 15th. They set a neutral rating and a $9.00 price objective for the company. TheStreet downgraded Lifetime Brands from a c- rating to a d+ rating in a report on Thursday, August 15th. Finally, ValuEngine upgraded Lifetime Brands from a sell rating to a hold rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $9.00.

Shares of LCUT stock traded up $0.03 on Wednesday, reaching $6.51. 45,500 shares of the stock were exchanged, compared to its average volume of 27,763. The stock has a market cap of $141.99 million, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.01 and a beta of 1.27. The company has a quick ratio of 1.21, a current ratio of 2.79 and a debt-to-equity ratio of 1.87. The firm has a 50 day moving average of $8.00 and a two-hundred day moving average of $8.58. Lifetime Brands has a 1-year low of $6.40 and a 1-year high of $12.40.

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Lifetime Brands by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 18,770 shares of the company’s stock worth $166,000 after buying an additional 1,649 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Lifetime Brands by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,393 shares of the company’s stock worth $884,000 after purchasing an additional 1,471 shares during the period. Weber Alan W boosted its position in Lifetime Brands by 84.6% during the 2nd quarter. Weber Alan W now owns 120,000 shares of the company’s stock worth $1,135,000 after purchasing an additional 55,000 shares during the period. Northern Trust Corp boosted its position in Lifetime Brands by 1.3% during the 2nd quarter. Northern Trust Corp now owns 149,845 shares of the company’s stock worth $1,417,000 after purchasing an additional 1,864 shares during the period. Finally, Boston Partners boosted its position in Lifetime Brands by 159.5% during the 2nd quarter. Boston Partners now owns 170,245 shares of the company’s stock worth $1,611,000 after purchasing an additional 104,631 shares during the period. Institutional investors and hedge funds own 45.08% 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 United States and internationally. The company operates through two segments, U.S. and International. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantryware, spice racks, and bakeware, as well as kitchen scales; and tableware products comprising dinnerware, stemware, flatware, and giftware.

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