Expect Equity LLC Purchases New Position in Lakeland Industries, Inc. $LAKE

Expect Equity LLC acquired a new position in Lakeland Industries, Inc. (NASDAQ:LAKE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 86,117 shares of the medical instruments supplier’s stock, valued at approximately $921,000.

A number of other hedge funds have also bought and sold shares of the business. Manatuck Hill Partners LLC purchased a new stake in shares of Lakeland Industries during the second quarter worth $431,000. BlackRock Inc. bought a new stake in shares of Lakeland Industries during the 2nd quarter valued at $1,692,000. Persistent Asset Partners Ltd purchased a new stake in Lakeland Industries during the 2nd quarter worth about $38,000. Bank of New York Mellon Corp bought a new position in Lakeland Industries in the 2nd quarter worth about $602,000. Finally, Marquette Asset Management LLC purchased a new position in Lakeland Industries during the 2nd quarter valued at about $300,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LAKE. Weiss Ratings upgraded Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. 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 research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.00.

Lakeland Industries Trading Up 1.2%

Shares of LAKE stock opened at $11.52 on Wednesday. The company has a market capitalization of $113.70 million, a PE ratio of -5.41 and a beta of 1.43. Lakeland Industries, Inc. has a 52-week low of $7.15 and a 52-week high of $18.00. The business’s fifty day moving average is $11.32 and its 200 day moving average is $10.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 3.09.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.18. The business had revenue of $47.42 million during the quarter, compared to analysts’ expectations of $47.36 million. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%. On average, equities research analysts anticipate that Lakeland Industries, Inc. will post -0.28 EPS for the current fiscal year.

Lakeland Industries 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.