Lifetime Brands (NASDAQ:LCUT) Shares Break Below Fifty Day Moving Average – Here’s Why

Lifetime Brands, Inc. (NASDAQ:LCUT)’s stock price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $8.76 and traded as low as $8.47. Lifetime Brands shares last traded at $8.49, with a volume of 88,193 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on LCUT shares. Weiss Ratings cut shares of Lifetime Brands from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Canaccord Genuity Group boosted their price objective on shares of Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Roth Capital restated a “buy” rating and set a $12.00 target price on shares of Lifetime Brands in a research report on Tuesday, August 11th. Finally, Zacks Research lowered shares of Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.50.

Lifetime Brands Stock Performance

The firm has a fifty day moving average of $8.76 and a 200-day moving average of $7.17. The stock has a market capitalization of $195.19 million, a price-to-earnings ratio of 5.94, a PEG ratio of 0.30 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51.

Lifetime Brands (NASDAQ:LCUT) last posted its earnings results on Thursday, August 6th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $1.39. The company had revenue of $141.57 million for the quarter, compared to the consensus estimate of $136.64 million. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%. As a group, sell-side analysts anticipate that Lifetime Brands, Inc. will post 2.06 EPS for the current year.

Insiders Place Their Bets

In other Lifetime Brands news, Director Jeffrey Siegel sold 11,560 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $9.53, for a total transaction of $110,166.80. Following the completion of the transaction, the director directly owned 1,166,337 shares in the company, valued at approximately $11,115,191.61. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 22,423 shares of company stock worth $213,176. Company insiders own 44.40% of the company’s stock.

Institutional Trading of Lifetime Brands

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Lifetime Brands in the 2nd quarter valued at approximately $8,092,000. Empowered Funds LLC acquired a new stake in Lifetime Brands during the 2nd quarter valued at $1,139,000. JB Capital Partners LP purchased a new position in Lifetime Brands during the second quarter worth $13,820,463. Martin & Co. Inc. TN purchased a new position in Lifetime Brands during the second quarter worth $3,799,000. Finally, Walleye Capital LLC purchased a new position in Lifetime Brands during the second quarter worth $444,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

Lifetime Brands Company Profile

Lifetime Brands, Inc designs, sources, and sells a broad range of kitchenware, tableware, and home products. Its offerings include cookware, bakeware, cutlery, kitchen tools and gadgets, food storage and pantry products, barware, coffee and tea accessories, and dining and entertaining products.

The company markets products under a portfolio of owned, licensed, and private-label brands, including Farberware, Mikasa, Pfaltzgraff, KitchenAid, Taylor, Rabbit, Chicago Cutlery, Kamenstein, and Towle.