Zacks Investment Research lowered shares of Lakeland Industries, Inc. (NASDAQ:LAKE) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

Lakeland Industries (NASDAQ:LAKE) opened at 10.70 on Tuesday. The company has a market capitalization of $77.69 million, a price-to-earnings ratio of 57.84 and a beta of 0.28. The firm’s 50-day moving average price is $10.81 and its 200 day moving average price is $10.45. Lakeland Industries has a 12-month low of $8.00 and a 12-month high of $12.75.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, December 14th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company earned $23.20 million during the quarter, compared to the consensus estimate of $23.18 million. Lakeland Industries had a net margin of 1.64% and a return on equity of 4.17%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. On average, analysts expect that Lakeland Industries will post $0.60 earnings per share for the current year.

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In other news, COO Stephen M. Bachelder sold 3,129 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $10.70, for a total transaction of $33,480.30. Following the completion of the transaction, the chief operating officer now directly owns 60,608 shares in the company, valued at $648,505.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher James Ryan sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $10.75, for a total transaction of $43,000.00. Following the transaction, the chief executive officer now owns 424,518 shares of the company’s stock, valued at $4,563,568.50. The disclosure for this sale can be found here. Insiders have sold 38,679 shares of company stock valued at $415,018 over the last quarter. Company insiders own 8.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Advisors LLC bought a new position in shares of Lakeland Industries during the fourth quarter valued at about $156,000. First Wilshire Securities Management Inc. increased its position in shares of Lakeland Industries by 807.6% in the fourth quarter. First Wilshire Securities Management Inc. now owns 93,705 shares of the company’s stock valued at $975,000 after buying an additional 83,380 shares during the period. Parthenon LLC increased its position in shares of Lakeland Industries by 1.2% in the third quarter. Parthenon LLC now owns 165,763 shares of the company’s stock valued at $1,649,000 after buying an additional 2,000 shares during the period. Ancora Advisors LLC increased its position in shares of Lakeland Industries by 0.9% in the fourth quarter. Ancora Advisors LLC now owns 290,119 shares of the company’s stock valued at $3,017,000 after buying an additional 2,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Lakeland Industries by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 384,802 shares of the company’s stock valued at $4,002,000 after buying an additional 5,000 shares during the period. Institutional investors own 38.05% of the company’s stock.

Lakeland Industries Company Profile

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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