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

Lifetime Brands, Inc. (NASDAQ:LCUT) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty 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 changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings downgraded 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 raised their price target on shares of Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Zacks Research cut shares of Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Roth Capital reiterated a “buy” rating and set a $12.00 price target on shares of Lifetime Brands in a report on Tuesday, August 11th. One equities 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, the stock has an average rating of “Hold” and a consensus target price of $9.50.

Lifetime Brands Price Performance

The company’s 50 day simple moving average is $8.76 and its 200 day simple moving average is $7.17. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $195.19 million, a PE ratio of 5.94, a PEG ratio of 0.30 and a beta of 1.08.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $1.39. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%. The company had revenue of $141.57 million for the quarter, compared to analyst estimates of $136.64 million. On average, equities analysts anticipate that Lifetime Brands, Inc. will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Siegel sold 11,560 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $9.53, for a total value 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 represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 22,423 shares of company stock valued at $213,176 in the last ninety days. Corporate insiders own 44.40% of the company’s stock.

Institutional Trading of Lifetime Brands

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Lifetime Brands during the 2nd quarter valued at about $61,000. AXQ Capital LP purchased a new position in shares of Lifetime Brands during the 2nd quarter worth about $93,000. Deutsche Bank AG purchased a new position in shares of Lifetime Brands during the 2nd quarter worth about $102,000. Bank of America Corp DE lifted its holdings in shares of Lifetime Brands by 39.0% during the 1st quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock worth $119,000 after acquiring an additional 5,809 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Lifetime Brands in the second quarter worth approximately $123,000. 40.62% of the stock is owned by institutional investors and hedge funds.

About Lifetime Brands

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.