Wall Street analysts forecast that Lakeland Industries, Inc. (NASDAQ:LAKE) will announce sales of $21.90 million for the current quarter, Zacks reports. Two analysts have issued estimates for Lakeland Industries’ earnings, with the highest sales estimate coming in at $22.15 million and the lowest estimate coming in at $21.64 million. Lakeland Industries reported sales of $20.30 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is expected to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Lakeland Industries will report full-year sales of $21.90 million for the current fiscal year, with estimates ranging from $92.98 million to $94.22 million. For the next fiscal year, analysts anticipate that the business will post sales of $98.12 million per share, with estimates ranging from $98.10 million to $98.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Industries.
Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Friday, December 15th. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The firm had revenue of $23.96 million during the quarter, compared to the consensus estimate of $25.06 million. Lakeland Industries had a return on equity of 8.21% and a net margin of 6.92%.
LAKE has been the subject of a number of research analyst reports. Zacks Investment Research raised Lakeland Industries from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, December 19th. TheStreet downgraded Lakeland Industries from a “b” rating to a “c+” rating in a report on Friday, December 15th.
Lakeland Industries (NASDAQ:LAKE) opened at $13.90 on Thursday. The company has a quick ratio of 3.21, a current ratio of 6.43 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $109.57, a P/E ratio of 16.37, a P/E/G ratio of 1.46 and a beta of -0.07. Lakeland Industries has a fifty-two week low of $9.90 and a fifty-two week high of $17.18.
Several hedge funds have recently bought and sold shares of LAKE. Algert Global LLC boosted its holdings in shares of Lakeland Industries by 776.0% in the third quarter. Algert Global LLC now owns 225,733 shares of the medical instruments supplier’s stock valued at $3,183,000 after acquiring an additional 199,964 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lakeland Industries by 23.6% in the third quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock valued at $7,665,000 after acquiring an additional 103,694 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Lakeland Industries by 79.6% in the fourth quarter. Wells Fargo & Company MN now owns 139,054 shares of the medical instruments supplier’s stock valued at $2,023,000 after acquiring an additional 61,634 shares during the period. Bailard Inc. acquired a new stake in shares of Lakeland Industries in the fourth quarter valued at approximately $695,000. Finally, EAM Investors LLC acquired a new stake in shares of Lakeland Industries in the third quarter valued at approximately $593,000. 57.28% of the stock is owned by institutional investors and hedge funds.
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About Lakeland Industries
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.
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