Lakeland Industries (NASDAQ:LAKE) Downgraded by StockNews.com to “Sell”

by · The Markets Daily

StockNews.com cut shares of Lakeland Industries (NASDAQ:LAKE – Free Report) from a hold rating to a sell rating in a report published on Tuesday morning.

Separately, Roth Mkm lifted their price objective on shares of Lakeland Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd.

View Our Latest Research Report on Lakeland Industries

Lakeland Industries Price Performance

NASDAQ LAKE opened at $19.27 on Tuesday. The company has a market cap of $142.60 million, a PE ratio of 80.29 and a beta of 0.55. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.00 and a current ratio of 4.24. The firm’s 50 day moving average price is $20.69 and its 200-day moving average price is $20.79.

Lakeland Industries (NASDAQ:LAKE – Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). The company had revenue of $38.51 million during 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 prior year, the business posted $0.32 earnings per share. Sell-side analysts forecast that Lakeland Industries will post 0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakeland Industries

Hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. acquired a new stake in shares of Lakeland Industries during the second quarter worth $597,000. Renaissance Technologies LLC lifted its position in Lakeland Industries by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock worth $11,452,000 after acquiring an additional 13,200 shares during the period. Inspire Advisors LLC purchased a new stake in Lakeland Industries during the 2nd quarter valued at about $222,000. Quadrature Capital Ltd grew its stake in Lakeland Industries by 47.0% during the 1st quarter. Quadrature Capital Ltd now owns 18,641 shares of the medical instruments supplier’s stock valued at $339,000 after purchasing an additional 5,957 shares during the last quarter. Finally, High Falls Advisors Inc increased its holdings in shares of Lakeland Industries by 35.8% in the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after purchasing an additional 5,137 shares during the period. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Lakeland Industries

(Get Free Report)

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.

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