Lifetime Brands, Inc. (NASDAQ:LCUT – Get Free Report)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $7.73 and traded as high as $8.73. Lifetime Brands shares last traded at $8.68, with a volume of 93,216 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Zacks Research upgraded Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings raised Lifetime Brands from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday. Canaccord Genuity Group boosted their price objective on Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Roth Capital restated a “buy” rating and issued a $12.00 price objective on shares of Lifetime Brands in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.
Read Our Latest Stock Analysis on Lifetime Brands
Lifetime Brands Price Performance
Lifetime Brands (NASDAQ:LCUT – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $1.39. Lifetime Brands had a net margin of 4.81% and a return on equity of 26.39%. The firm had revenue of $141.57 million for the quarter, compared to analysts’ expectations of $136.64 million. As a group, analysts predict that Lifetime Brands, Inc. will post 2.08 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 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 1.8%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands’s dividend payout ratio (DPR) is 11.89%.
Insider Activity
In other news, Director Jeffrey Siegel sold 11,560 shares of the company’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 of the company’s stock, valued at approximately $11,115,191.61. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 22,423 shares of company stock valued at $213,176 in the last 90 days. 44.40% of the stock is currently owned by insiders.
Institutional Trading of Lifetime Brands
Several large investors have recently modified their holdings of LCUT. BlackRock Inc. purchased a new position in Lifetime Brands during the 2nd quarter valued at about $8,092,000. Empowered Funds LLC purchased a new stake in Lifetime Brands in the 2nd quarter worth approximately $1,139,000. JB Capital Partners LP purchased a new stake in Lifetime Brands in the 2nd quarter worth approximately $13,820,463. Martin & Co. Inc. TN bought a new stake in shares of Lifetime Brands in the 2nd quarter worth approximately $3,799,000. Finally, Walleye Capital LLC bought a new stake in shares of Lifetime Brands in the 2nd quarter worth approximately $444,000. 40.62% of the stock is owned by institutional investors.
About Lifetime Brands
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.
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