Lifetime Brands (NASDAQ:LCUT) Given New $9.00 Price Target at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its target price cut by Canaccord Genuity Group from $10.00 to $9.00 in a research note released on Friday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Lifetime Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. DA Davidson boosted their price target on Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, August 12th.

Lifetime Brands Price Performance

Shares of NASDAQ:LCUT opened at $6.30 on Friday. The firm has a market capitalization of $139.06 million, a PE ratio of -23.33, a PEG ratio of 0.63 and a beta of 1.25. The company has a current ratio of 2.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. Lifetime Brands has a 1-year low of $4.96 and a 1-year high of $11.68. The business’s 50 day moving average is $6.71 and its 200-day moving average is $8.41.

Lifetime Brands (NASDAQ:LCUT) last announced 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). The business had revenue of $141.67 million during the quarter, compared to the consensus estimate of $41.90 million. Lifetime Brands had a negative net margin of 2.58% and a positive return on equity of 4.51%. During the same period last year, the firm earned ($0.02) EPS. Sell-side analysts predict that Lifetime Brands will post 0.7 earnings per share for the current year.

Lifetime Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.043 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.17 dividend on an annualized basis and a yield of 2.73%. Lifetime Brands’s dividend payout ratio (DPR) is presently -62.96%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in Lifetime Brands during the 2nd quarter worth approximately $87,000. Rhumbline Advisers boosted its stake in Lifetime Brands by 579.0% in the second quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock worth $113,000 after purchasing an additional 11,233 shares in the last quarter. Squarepoint Ops LLC grew its holdings 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 last quarter. Heron Bay Capital Management increased its stake in shares of Lifetime Brands by 81.1% in the first quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock valued at $196,000 after buying an additional 8,369 shares in the last quarter. Finally, Chemistry Wealth Management LLC bought a new position in shares of Lifetime Brands in the first quarter valued at about $235,000. Institutional investors own 40.62% of the company’s stock.

About Lifetime Brands

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.