Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 43,600 shares, a growth of 311.3% from the July 31st total of 10,600 shares. Based on an average daily volume of 24,100 shares, the short-interest ratio is currently 1.8 days. Currently, 0.6% of the shares of the company are short sold.
Shares of LAKE stock traded up $0.13 during trading on Wednesday, reaching $11.46. 48,660 shares of the company’s stock were exchanged, compared to its average volume of 20,911. Lakeland Industries has a twelve month low of $9.70 and a twelve month high of $14.44. The firm’s fifty day moving average price is $10.72 and its 200-day moving average price is $11.45. The company has a quick ratio of 2.09, a current ratio of 5.01 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $82.94 million, a PE ratio of 27.95 and a beta of 0.61.
Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Monday, September 9th. The medical instruments supplier reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.16. Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. The business had revenue of $27.47 million during the quarter, compared to the consensus estimate of $25.62 million. As a group, analysts anticipate that Lakeland Industries will post 0.15 EPS for the current fiscal year.
A number of research firms recently commented on LAKE. Roth Capital set a $15.00 price target on Lakeland Industries and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised Lakeland Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, ValuEngine upgraded Lakeland Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st.
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Lakeland Industries by 6.4% during the second quarter. BlackRock Inc. now owns 48,078 shares of the medical instruments supplier’s stock worth $539,000 after purchasing an additional 2,890 shares during the period. Granite Investment Partners LLC lifted its holdings in Lakeland Industries by 88.6% during the 1st quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock worth $597,000 after purchasing an additional 23,894 shares during the last quarter. Equitable Trust Co. boosted its stake in Lakeland Industries by 6.2% in the 2nd quarter. Equitable Trust Co. now owns 56,449 shares of the medical instruments supplier’s stock valued at $632,000 after purchasing an additional 3,300 shares during the period. Kennedy Capital Management Inc. bought a new stake in Lakeland Industries in the 1st quarter valued at $1,723,000. Finally, Vanguard Group Inc. boosted its stake in Lakeland Industries by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 316,934 shares of the medical instruments supplier’s stock valued at $3,550,000 after purchasing an additional 10,278 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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