Lakeland Industries Inc. (LAKE) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Lakeland Industries Inc. (NASDAQ:LAKE) from a hold rating to a strong-buy rating in a research report report published on Friday morning. Zacks Investment Research currently has $12.00 price target on the stock.
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. “
Shares of Lakeland Industries (NASDAQ:LAKE) opened at 10.10 on Friday. Lakeland Industries has a 52 week low of $8.00 and a 52 week high of $15.78. The stock’s 50 day moving average price is $9.90 and its 200 day moving average price is $9.87. The firm has a market capitalization of $73.29 million, a P/E ratio of 36.59 and a beta of 0.10.
Lakeland Industries (NASDAQ:LAKE) last issued its earnings results on Wednesday, September 14th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company earned $22.30 million during the quarter, compared to analyst estimates of $22.01 million. Lakeland Industries had a net margin of 2.30% and a return on equity of 5.07%. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. On average, analysts predict that Lakeland Industries will post $0.60 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in LAKE. Wellington Management Group LLP raised its stake in Lakeland Industries by 8.6% in the first quarter. Wellington Management Group LLP now owns 650,376 shares of the company’s stock valued at $7,980,000 after buying an additional 51,700 shares during the last quarter. Ancora Advisors LLC raised its stake in Lakeland Industries by 14.2% in the second quarter. Ancora Advisors LLC now owns 289,619 shares of the company’s stock valued at $2,511,000 after buying an additional 36,000 shares during the last quarter. Granite Investment Partners LLC raised its stake in Lakeland Industries by 23.2% in the first quarter. Granite Investment Partners LLC now owns 161,442 shares of the company’s stock valued at $1,981,000 after buying an additional 30,365 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Lakeland Industries during the second quarter valued at about $164,000. Finally, Vanguard Group Inc. raised its stake in Lakeland Industries by 1.8% in the second quarter. Vanguard Group Inc. now owns 232,002 shares of the company’s stock valued at $2,012,000 after buying an additional 4,076 shares during the last quarter. 39.09% of the stock is owned by institutional investors and hedge funds.
About Lakeland Industries
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.
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