Lifetime Brands (NASDAQ:LCUT) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Lifetime Brands, Inc. (NASDAQ:LCUT)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.98 and traded as high as $8.78. Lifetime Brands shares last traded at $8.60, with a volume of 242,732 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings raised Lifetime Brands from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Canaccord Genuity Group increased their price objective on Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Finally, Roth Capital reissued a “buy” rating and issued a $12.00 target price on shares of Lifetime Brands in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Lifetime Brands Trading Up 4.2%

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.11 and a quick ratio of 0.99. The company has a market capitalization of $207.16 million, a price-to-earnings ratio of 6.30, a P/E/G ratio of 0.30 and a beta of 1.01. The business’s 50-day moving average price is $8.93 and its two-hundred day moving average price is $8.01.

Lifetime Brands (NASDAQ:LCUT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.18 EPS 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 firm had revenue of $141.57 million for the quarter, compared to analyst estimates of $136.64 million. Research 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 announced 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands’s dividend payout ratio (DPR) is currently 11.89%.

Insider Activity at Lifetime Brands

In other news, Director Jeffrey Siegel sold 11,560 shares of the company’s stock in a transaction that occurred on 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 sale, the director 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 22,423 shares of company stock valued at $213,176. 44.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lifetime Brands

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

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.