Lakeland Industries (NASDAQ:LAKE) Posts Quarterly Earnings Results, Beats Estimates By $999.14 EPS

Lakeland Industries (NASDAQ:LAKE) posted its quarterly earnings data on Tuesday. The medical instruments supplier reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $999.14, Zacks reports. Lakeland Industries had a negative return on equity of 9.57% and a negative net margin of 13.14%.

Lakeland Industries Trading Up 1.4%

Shares of LAKE stock traded up $0.13 during trading hours on Tuesday, hitting $9.54. 629,795 shares of the company were exchanged, compared to its average volume of 111,772. The company has a 50 day simple moving average of $9.83 and a two-hundred day simple moving average of $9.90. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.36 and a current ratio of 3.53. The firm has a market cap of $94.05 million, a P/E ratio of -3.70 and a beta of 1.45.

Analyst Upgrades and Downgrades

LAKE has been the subject of several research analyst reports. Lake Street Capital lowered their price objective on Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Maxim Group set a $16.00 price objective on shares of Lakeland Industries in a research report on Monday, April 20th. DA Davidson raised shares of Lakeland Industries from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $14.00 in a research report on Monday, April 20th. Zacks Research raised shares of Lakeland Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised shares of Lakeland Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.20.

Institutional Trading of Lakeland Industries

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Lakeland Industries in the 4th quarter valued at $130,000. Boothbay Fund Management LLC acquired a new stake in Lakeland Industries in the 3rd quarter valued at $192,000. Paradigm Capital Management Inc. NY acquired a new stake in Lakeland Industries in the 2nd quarter valued at $136,000. Sandia Investment Management LP acquired a new stake in Lakeland Industries in the 2nd quarter valued at $148,000. Finally, Invesco Ltd. acquired a new stake in Lakeland Industries in the 2nd quarter valued at $145,000. 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.