Canaccord Genuity Group Cuts Lifetime Brands (NASDAQ:LCUT) Price Target to $4.00
Canaccord Genuity Group has lowered its price target for Lifetime Brands (NASDAQ: LCUT) from $5.00 to $4.00 while maintaining a "buy" rating. This new target suggests a potential upside of 30.72% from the current price of $3.06. Other analysts have mixed ratings on the stock, with one holding a buy rating, one a hold, and two sell ratings. Lifetime Brands reported earnings of $0.11 per share, exceeding estimates, but revenue fell short of expectations. Institutional investors own 40.62% of the company.
Lifetime Brands (NASDAQ:LCUT - Get Free Report) had its price objective cut by research analysts at Canaccord Genuity Group from $5.00 to $4.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 30.72% from the company's current price.
Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Lifetime Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lifetime Brands in a report on Wednesday, October 8th. Finally, Zacks Research cut Lifetime Brands from a "hold" rating to a "strong sell" rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $5.00.
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Check Out Our Latest Analysis on LCUT
Lifetime Brands Trading Up 0.3%
NASDAQ LCUT traded up $0.01 during trading hours on Friday, reaching $3.06. The company's stock had a trading volume of 18,269 shares, compared to its average volume of 60,697. Lifetime Brands has a 52 week low of $2.89 and a 52 week high of $7.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.65 and a quick ratio of 0.94. The stock has a market cap of $68.59 million, a P/E ratio of -1.92 and a beta of 1.53. The firm has a fifty day simple moving average of $3.71 and a 200-day simple moving average of $3.88.
Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Lifetime Brands had a positive return on equity of 0.12% and a negative net margin of 5.16%.The business had revenue of $171.91 million during the quarter, compared to analyst estimates of $178.76 million. Equities analysts forecast that Lifetime Brands will post 0.55 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lifetime Brands
Several large investors have recently added to or reduced their stakes in LCUT. Nuveen LLC bought a new stake in shares of Lifetime Brands in the 1st quarter worth $82,000. Qube Research & Technologies Ltd purchased a new stake in Lifetime Brands in the 2nd quarter valued at about $88,000. Y Intercept Hong Kong Ltd bought a new position in shares of Lifetime Brands during the 2nd quarter worth approximately $212,000. SageView Advisory Group LLC boosted its stake in shares of Lifetime Brands by 60.4% in the 1st quarter. SageView Advisory Group LLC now owns 55,546 shares of the company's stock worth $274,000 after buying an additional 20,906 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Lifetime Brands by 7.3% in the first quarter. Empowered Funds LLC now owns 108,458 shares of the company's stock valued at $535,000 after acquiring an additional 7,385 shares in the last quarter. Institutional investors own 40.62% of the company's stock.
Lifetime Brands Company Profile
(Get Free Report)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.
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