Brokerages Set Lakeland Industries, Inc. (NASDAQ:LAKE) Price Target at $16.50

Lakeland Industries, Inc. (NASDAQ:LAKE) has earned an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

Several analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $14.00 price objective (down from $20.00) on shares of Lakeland Industries in a research note on Wednesday, December 10th. Roth Mkm reduced their price target on Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. UBS Group set a $14.00 price objective on Lakeland Industries in a research note on Wednesday, December 10th. Zacks Research lowered shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 16th. Finally, Lake Street Capital decreased their price target on shares of Lakeland Industries from $26.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th.

Lakeland Industries Stock Performance

Shares of Lakeland Industries stock opened at $10.01 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 1.48. The stock has a market capitalization of $98.20 million, a price-to-earnings ratio of -2.28 and a beta of 1.30. The business has a 50-day moving average of $9.75 and a 200 day moving average of $13.29. Lakeland Industries has a 12 month low of $7.77 and a 12 month high of $25.53.

Insider Activity at Lakeland Industries

In related news, CFO Roger D. Shannon sold 8,869 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $8.06, for a total value of $71,484.14. Following the transaction, the chief financial officer owned 36,026 shares of the company’s stock, valued at $290,369.56. This represents a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 6,727 shares of company stock worth $58,548 in the last three months. Insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 839 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Lakeland Industries in the second quarter valued at approximately $31,000. Tripletail Wealth Management LLC acquired a new stake in Lakeland Industries during the third quarter worth approximately $49,000. Bank of America Corp DE lifted its position in shares of Lakeland Industries by 189.9% during the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after buying an additional 2,736 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Lakeland Industries in the 2nd quarter valued at $59,000. 71.69% of the stock is owned by institutional investors and hedge funds.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.