Lakeland Industries (NASDAQ:LAKE) Raised to Hold at Zacks Research

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

LAKE has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lakeland Industries in a research note on Friday, September 25th. DA Davidson lowered their price target on Lakeland Industries from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Roth Capital set a $17.00 price target on Lakeland Industries in a research note on Thursday, September 10th. Finally, Wall Street Zen lowered Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 12th. Three investment 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, Lakeland Industries currently has a consensus rating of “Hold” and an average target price of $15.00.

Lakeland Industries Trading Down 1.3%

Shares of Lakeland Industries stock opened at $9.29 on Wednesday. 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 $16.91. The firm has a market cap of $92.25 million, a PE ratio of -3.43 and a beta of 1.50. The company has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $10.13.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results 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 return on equity of 11.35% and a negative net margin of 13.99%. The company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Analysts expect 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 large investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd purchased a new stake in Lakeland Industries during the second quarter valued at about $38,000. Ancora Advisors LLC purchased a new position in shares of Lakeland Industries in the second quarter worth about $54,000. Sei Investments Co. purchased a new position in shares of Lakeland Industries in the first quarter worth about $88,000. Bank of America Corp DE increased its holdings in shares of Lakeland Industries by 173.9% in the first quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 12,171 shares during the period. Finally, Marquette Asset Management LLC purchased a new position in shares of Lakeland Industries in the second quarter worth about $300,000. 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.