Lakeland Industries (NASDAQ:LAKE) Rating Lowered to Strong Sell at Wall Street Zen

Lakeland Industries (NASDAQ:LAKE) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also issued reports on LAKE. Roth Capital set a $17.00 price target on shares of Lakeland Industries in a research note on Thursday. Weiss Ratings upgraded shares of Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Finally, DA Davidson boosted their price objective on shares of Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lakeland Industries has a consensus rating of “Hold” and a consensus target price of $15.60.

Lakeland Industries Stock Performance

Shares of NASDAQ:LAKE opened at $10.08 on Friday. The business’s 50-day moving average is $11.49 and its 200 day moving average is $10.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.98 and a quick ratio of 1.34. Lakeland Industries has a 1 year low of $7.15 and a 1 year high of $18.00. The firm has a market capitalization of $100.09 million, a P/E ratio of -3.72 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.44). Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%.The business had revenue of $50.14 million during the quarter, compared to analyst estimates of $51.36 million. On average, research analysts predict that Lakeland Industries will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lakeland Industries

A number of institutional investors have recently bought and sold shares of the business. Private Capital Management LLC boosted its holdings in shares of Lakeland Industries by 2.8% in the 4th quarter. Private Capital Management LLC now owns 1,202,433 shares of the medical instruments supplier’s stock valued at $10,630,000 after acquiring an additional 32,945 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lakeland Industries by 2.3% during the third quarter. Vanguard Group Inc. now owns 486,524 shares of the medical instruments supplier’s stock worth $7,201,000 after purchasing an additional 10,764 shares during the last quarter. Geode Capital Management LLC lifted its position in Lakeland Industries by 115.9% during the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock valued at $2,964,000 after purchasing an additional 116,901 shares during the period. Expect Equity LLC lifted its position in Lakeland Industries by 6.9% during the fourth quarter. Expect Equity LLC now owns 166,061 shares of the medical instruments supplier’s stock valued at $1,468,000 after purchasing an additional 10,705 shares during the period. Finally, BlackRock Inc. purchased a new stake in Lakeland Industries in the second quarter valued at $1,692,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

Lakeland Industries Company Profile

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.