Analysts Set Lakeland Industries, Inc. (NASDAQ:LAKE) Target Price at $16.00

Shares of Lakeland Industries, Inc. (NASDAQ:LAKE) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.00.

LAKE has been the subject of a number of research reports. Lake Street Capital reduced their target price on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a report on Friday, April 17th. DA Davidson upped their price target on Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Maxim Group set a $16.00 price objective on Lakeland Industries in a research note on Monday, April 20th. Weiss Ratings raised Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 839 shares during the period. Bank of America Corp DE increased its stake in shares of Lakeland Industries by 189.9% in the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after acquiring an additional 2,736 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Lakeland Industries during the second quarter worth $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Lakeland Industries during the second quarter worth $68,000. Finally, Wells Fargo & Company MN boosted its position in Lakeland Industries by 35.5% during the fourth quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier’s stock valued at $84,000 after purchasing an additional 2,492 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE opened at $12.44 on Thursday. Lakeland Industries has a 1 year low of $7.15 and a 1 year high of $18.00. The firm has a market cap of $122.78 million, a P/E ratio of -5.84 and a beta of 1.43. The stock has a fifty day moving average price of $10.90 and a two-hundred day moving average price of $9.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 3.09.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%.The business had revenue of $47.42 million during the quarter, compared to analysts’ expectations of $47.36 million. Research analysts forecast that Lakeland Industries will post -0.28 EPS for the current fiscal year.

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.