Lakeland Industries (NASDAQ:LAKE) Announces Earnings Results

Lakeland Industries (NASDAQ:LAKE) posted its earnings results on Wednesday. The medical instruments supplier reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.44), FiscalAI reports. The firm had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%.

Lakeland Industries Stock Down 3.8%

NASDAQ LAKE traded down $0.44 during trading on Wednesday, reaching $11.07. 99,390 shares of the company’s stock were exchanged, compared to its average volume of 115,573. The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $18.00. The company’s fifty day simple moving average is $11.60 and its 200-day simple moving average is $10.32. The firm has a market capitalization of $109.25 million, a PE ratio of -5.20 and a beta of 1.45.

Institutional Trading of Lakeland Industries

Several institutional investors have recently made changes to their positions in LAKE. BNP Paribas Financial Markets increased its stake in Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after buying an additional 839 shares during the period. Bank of America Corp DE raised its holdings in shares of Lakeland Industries by 189.9% during the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after acquiring an additional 2,736 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Lakeland Industries during the second quarter worth $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Lakeland Industries during the second quarter valued at $68,000. Finally, Wells Fargo & Company MN boosted its position in Lakeland Industries by 35.5% during the fourth quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier’s stock valued at $84,000 after purchasing an additional 2,492 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LAKE. Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings raised 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 increased 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

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.