Equities researchers at Roth Mkm have initiated coverage on shares of Lifetime Brands (NASDAQ: LCUT), assigning a “buy” rating and setting a price target of $5.00. This target suggests a potential upside of 48.10% from the stock’s previous close. The report, released on January 26, 2024, marks a significant shift in analyst sentiment towards the company.
Various other reports have circulated regarding Lifetime Brands. On the same day, Canaccord Genuity Group reaffirmed a “hold” rating with a revised target price of $3.50, down from $4.00. In addition, Weiss Ratings maintained a “sell (d-)” rating on January 22, 2024, while Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on January 6, 2024. Currently, analysts’ consensus rating remains at “hold” with a target price averaging $4.83.
Institutional Investors Show Interest
Recent trading activity indicates that several hedge funds and institutional investors have bought and sold shares of Lifetime Brands. Royce & Associates LP acquired a new stake in the company valued at $41,000 during the third quarter. Similarly, Qube Research & Technologies Ltd invested approximately $88,000 in the second quarter, while Arrowstreet Capital Limited Partnership spent around $118,000 in the third quarter.
Notably, Jane Street Group LLC significantly increased its holdings by 388.4% in the fourth quarter, now owning 51,795 shares worth about $205,000 after adding 41,191 shares. Overall, institutional investors now hold 40.62% of Lifetime Brands’ stock, reflecting growing confidence in the company’s potential.
About Lifetime Brands
Based in Garden City, New York, Lifetime Brands, Inc. designs, sources, manufactures, and distributes a wide range of consumer products for the home. The company operates through three primary segments: Kitchenware, Tabletop & Home Décor, and Tools & Storage. It provides solutions for food preparation, cooking, serving, and storage under both proprietary and licensed brand names. Notable brands include Farberware and Chef’sChoice.
As market dynamics continue to evolve, the actions of analysts and institutional investors will be closely monitored to gauge the future trajectory of Lifetime Brands. Investors and stakeholders are encouraged to stay informed as more developments arise in this sector.
