Lifetime Brands (NASDAQ:LCUT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Lifetime Brands, Inc. (NASDAQ:LCUT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.52 and traded as high as $8.52. Lifetime Brands shares last traded at $8.29, with a volume of 192,401 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifetime Brands in a research report on Monday, July 6th. Roth Capital restated a “buy” rating and set a $12.00 price objective on shares of Lifetime Brands in a research note on Tuesday, August 11th. Zacks Research raised shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Canaccord Genuity Group increased their target price on shares of Lifetime Brands from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Lifetime Brands Trading Up 0.7%

The company has a market capitalization of $192.40 million, a price-to-earnings ratio of 5.86, a PEG ratio of 0.29 and a beta of 0.98. The firm has a 50-day moving average price of $8.86 and a 200-day moving average price of $7.55. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $1.39. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%.The business had revenue of $141.57 million during the quarter, compared to analyst estimates of $136.64 million. As a group, sell-side analysts predict that Lifetime Brands, Inc. will post 2.08 EPS for the current year.

Lifetime Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands’s dividend payout ratio is presently 11.89%.

Insider Buying and Selling at Lifetime Brands

In other news, Director Jeffrey Siegel sold 11,560 shares of Lifetime Brands stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $9.53, for a total value of $110,166.80. Following the transaction, the director owned 1,166,337 shares of the company’s stock, valued at $11,115,191.61. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 22,423 shares of company stock worth $213,176. Company insiders own 44.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LCUT. BlackRock Inc. bought a new stake in shares of Lifetime Brands during the 2nd quarter worth $8,092,000. Empowered Funds LLC acquired a new stake in shares of Lifetime Brands during the second quarter worth $1,139,000. JB Capital Partners LP purchased a new stake in shares of Lifetime Brands during the second quarter valued at $13,820,463. Martin & Co. Inc. TN purchased a new stake in shares of Lifetime Brands during the second quarter valued at $3,799,000. Finally, Walleye Capital LLC acquired a new position in shares of Lifetime Brands in the 2nd quarter valued at $444,000. Institutional investors and hedge funds own 40.62% of the company’s stock.

Lifetime Brands Company Profile

Lifetime Brands, Inc is a designer, developer, manufacturer and marketer of kitchenware, tabletop products and other home-related goods. Its product offerings include cookware, bakeware, cutlery, kitchen tools and gadgets, food storage products, beverageware, dinnerware, flatware, serving accessories and home organization items.

The company markets products under a portfolio of owned, licensed and distributed brands, including Farberware, Mikasa, Pfaltzgraff, Chicago Cutlery, Kamenstein, Rabbit, Taylor and several Gibson brands.