Lakeland Industries (NASDAQ:LAKE) Raised to Hold at StockNews.com

Lakeland Industries (NASDAQ:LAKE) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued reports about the stock. Maxim Group lifted their price target on shares of Lakeland Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Roth Mkm boosted their target price on Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Lakeland Industries Trading Down 0.5 %

Shares of NASDAQ:LAKE traded down $0.11 during trading on Friday, reaching $20.18. The company’s stock had a trading volume of 27,231 shares, compared to its average volume of 37,549. The stock has a market capitalization of $148.89 million, a PE ratio of 26.91 and a beta of 0.57. Lakeland Industries has a 12 month low of $13.86 and a 12 month high of $26.10. The firm’s 50 day simple moving average is $22.48 and its two-hundred day simple moving average is $20.23. The company has a current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.61). The company had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $41.10 million. Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. During the same quarter in the previous year, the company posted $0.32 EPS. On average, research analysts predict that Lakeland Industries will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in shares of Lakeland Industries during the fourth quarter worth approximately $236,000. North Star Investment Management Corp. increased its holdings in Lakeland Industries by 0.9% during the 1st quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock worth $3,085,000 after purchasing an additional 1,503 shares during the period. Empowered Funds LLC raised its position in Lakeland Industries by 6.9% during the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after purchasing an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Lakeland Industries by 37.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after buying an additional 2,900 shares during the period. Finally, Inspire Advisors LLC bought a new position in shares of Lakeland Industries during the 2nd quarter worth $222,000. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Company Profile

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.