DA Davidson Issues Pessimistic Forecast for Lakeland Industries (NASDAQ:LAKE) Stock Price

Lakeland Industries (NASDAQ:LAKE) had its price target reduced by equities research analysts at DA Davidson from $18.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. DA Davidson’s price target would indicate a potential upside of 46.70% from the stock’s current price.

Several other research analysts have also recently issued reports on LAKE. Weiss Ratings raised Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Roth Capital set a $17.00 price objective on shares of Lakeland Industries in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.00.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE traded up $0.14 during midday trading on Monday, hitting $10.22. 23,980 shares of the company’s stock were exchanged, compared to its average volume of 115,946. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.98 and a quick ratio of 1.34. The stock’s 50 day moving average price is $11.49 and its 200-day moving average price is $10.34. The firm has a market cap of $101.53 million, a P/E ratio of -3.77 and a beta of 1.45. Lakeland Industries has a twelve month low of $7.15 and a twelve month high of $18.00.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.44). Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%.The business had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Equities research analysts anticipate that Lakeland Industries will post -0.48 EPS for the current year.

Institutional Trading of Lakeland Industries

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Lakeland Industries during the second quarter valued at about $1,692,000. Kennedy Capital Management LLC acquired a new position in Lakeland Industries during the third quarter worth about $2,287,000. Geode Capital Management LLC raised its position in Lakeland Industries by 115.9% in the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock worth $2,964,000 after acquiring an additional 116,901 shares in the last quarter. Expect Equity LLC bought a new stake in Lakeland Industries in the second quarter worth about $921,000. Finally, Bank of New York Mellon Corp acquired a new stake in Lakeland Industries in the 2nd quarter valued at about $602,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.