Lakeland Industries (NASDAQ:LAKE) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a sell rating in a research report released on Monday morning.

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

Lakeland Industries Price Performance

Shares of Lakeland Industries stock opened at $20.14 on Monday. The firm has a market cap of $148.59 million, a PE ratio of 26.85 and a beta of 0.57. Lakeland Industries has a twelve month low of $13.86 and a twelve month high of $26.10. The company has a quick ratio of 2.74, a current ratio of 5.39 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $23.02 and a 200 day moving average price of $19.99.

Lakeland Industries (NASDAQ:LAKE) last announced its 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). Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. The business had revenue of $38.51 million for the quarter, compared to analyst estimates of $41.10 million. During the same period in the previous year, the company earned $0.32 earnings per share. Sell-side analysts predict that Lakeland Industries will post 1.51 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.03 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.60%. Lakeland Industries’s dividend payout ratio is presently 16.00%.

Hedge Funds Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. raised its holdings in shares of Lakeland Industries by 37.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 2,900 shares during the period. Empowered Funds LLC raised its stake in Lakeland Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after purchasing an additional 700 shares during the period. Inspire Advisors LLC purchased a new position in Lakeland Industries during the second quarter worth about $222,000. Quadrature Capital Ltd purchased a new stake in shares of Lakeland Industries in the 4th quarter valued at approximately $236,000. Finally, High Falls Advisors Inc raised its position in shares of Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after buying an additional 5,137 shares during the period. Institutional investors and hedge funds 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.