Lakeland Industries (NASDAQ:LAKE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: One large division manufactures disposable/limited use garments and the four smaller divisions, Chemland, manufactures suits for use by toxic waste clean up teams; Fireland Fyrepel Products, manufactures fire and heat protective apparel and protective systems for personnel; Highland, manufactures specialty safety and industrial work gloves and Uniland, manufactures industrial and medical woven cloth garments. “
Separately, Roth Capital reiterated a “buy” rating on shares of Lakeland Industries in a report on Sunday, September 9th.
Shares of LAKE opened at $13.21 on Friday. Lakeland Industries has a 12-month low of $12.18 and a 12-month high of $16.85. The company has a current ratio of 6.81, a quick ratio of 2.87 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $108.11 million, a P/E ratio of 18.35 and a beta of 0.12.
Lakeland Industries (NASDAQ:LAKE) last issued its earnings results on Monday, September 10th. The medical instruments supplier reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Lakeland Industries had a positive return on equity of 5.73% and a negative net margin of 0.23%. The firm had revenue of $25.62 million during the quarter, compared to the consensus estimate of $25.10 million. As a group, sell-side analysts forecast that Lakeland Industries will post 0.85 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of LAKE. SG3 Management LLC bought a new position in shares of Lakeland Industries in the 2nd quarter worth $200,000. Prudential Financial Inc. lifted its stake in Lakeland Industries by 34.0% during the 3rd quarter. Prudential Financial Inc. now owns 19,300 shares of the medical instruments supplier’s stock valued at $257,000 after acquiring an additional 4,900 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Lakeland Industries during the 2nd quarter valued at $368,000. Wells Fargo & Company MN lifted its stake in Lakeland Industries by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 146,482 shares of the medical instruments supplier’s stock valued at $1,897,000 after acquiring an additional 7,428 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its stake in Lakeland Industries by 30.5% during the 3rd quarter. North Star Investment Management Corp. now owns 188,450 shares of the medical instruments supplier’s stock valued at $2,506,000 after acquiring an additional 44,000 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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