Zacks Research Downgrades Lakeland Industries (NASDAQ:LAKE) to Strong Sell

Lakeland Industries (NASDAQ:LAKE) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Roth Capital lowered their target price on shares of Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Wall Street Zen cut shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lakeland Industries in a research report on Wednesday, October 8th. DA Davidson reissued a “neutral” rating and issued a $14.00 target price (down previously from $20.00) on shares of Lakeland Industries in a research note on Wednesday, December 10th. Finally, UBS Group set a $14.00 price target on Lakeland Industries in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.50.

Lakeland Industries Trading Up 0.5%

Shares of LAKE stock opened at $8.23 on Tuesday. The company has a market capitalization of $80.74 million, a PE ratio of -1.89 and a beta of 1.33. Lakeland Industries has a 52-week low of $7.97 and a 52-week high of $27.28. The business’s fifty day moving average is $14.91 and its 200 day moving average is $14.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.48 and a current ratio of 3.83.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 earnings per share for the quarter. Lakeland Industries had a negative return on equity of 7.80% and a negative net margin of 19.41%.The business had revenue of $27.47 million for the quarter. On average, equities research analysts anticipate that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 839 shares during the last quarter. Diversified Investment Strategies LLC lifted its stake in Lakeland Industries by 2.6% in the second quarter. Diversified Investment Strategies LLC now owns 40,000 shares of the medical instruments supplier’s stock worth $544,000 after acquiring an additional 1,000 shares during the period. First Trust Advisors LP lifted its stake in Lakeland Industries by 4.2% in the second quarter. First Trust Advisors LP now owns 28,554 shares of the medical instruments supplier’s stock worth $389,000 after acquiring an additional 1,149 shares during the period. Rhumbline Advisers boosted its holdings in Lakeland Industries by 16.0% in the third quarter. Rhumbline Advisers now owns 13,415 shares of the medical instruments supplier’s stock valued at $199,000 after acquiring an additional 1,853 shares in the last quarter. Finally, Salem Investment Counselors Inc. purchased a new position in Lakeland Industries during the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.