Lakeland Industries (NASDAQ:LAKE) Stock Bumped Up to Hold by Zacks Research

Lakeland Industries (NASDAQ:LAKE) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Lakeland Industries from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 12th. Roth Capital set a $17.00 target price on shares of Lakeland Industries in a research report on Thursday, September 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Lakeland Industries in a research report on Friday, September 25th. Finally, DA Davidson lowered their price target on shares of Lakeland Industries from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lakeland Industries presently has an average rating of “Hold” and a consensus target price of $15.00.

Lakeland Industries Trading Down 1.3%

Shares of Lakeland Industries stock opened at $9.29 on Wednesday. Lakeland Industries has a 52-week low of $7.15 and a 52-week high of $16.91. The company has a quick ratio of 1.34, a current ratio of 2.98 and a debt-to-equity ratio of 0.22. The company’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $10.13. The firm has a market cap of $92.25 million, a price-to-earnings ratio of -3.43 and a beta of 1.50.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.44). Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. The firm had revenue of $50.14 million during the quarter, compared to analyst estimates of $51.36 million. As a group, equities research analysts anticipate that Lakeland Industries will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Royce & Associates LP raised its position in shares of Lakeland Industries by 0.3% during the 3rd quarter. Royce & Associates LP now owns 1,323,069 shares of the medical instruments supplier’s stock worth $13,072,000 after purchasing an additional 3,983 shares during the last quarter. Bank of America Corp DE purchased a new stake in Lakeland Industries in the 2nd quarter valued at approximately $163,000. Ancora Advisors LLC purchased a new stake in Lakeland Industries in the 2nd quarter valued at approximately $54,000. Expect Equity LLC acquired a new stake in Lakeland Industries during the 2nd quarter valued at $921,000. Finally, Manatuck Hill Partners LLC purchased a new position in Lakeland Industries during the second quarter worth $431,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc. (NASDAQ: LAKE) designs, manufactures and sells industrial and public-safety protective clothing and accessories. Its products are intended to help protect workers from chemical exposure, fire and heat, arc flash, hazardous particles, infectious materials and other workplace risks. The company’s product portfolio includes disposable and reusable coveralls, chemical-resistant suits, flame-resistant and high-visibility apparel, protective garments for cleanrooms and healthcare environments, gloves, sleeves, footwear and other personal protective equipment.