Lakeland Industries (NASDAQ:LAKE) Stock Moved Up to Hold by Zacks Research

Zacks Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks reports.

A number of other research analysts have also recently commented on LAKE. DA Davidson reduced their price target on shares of Lakeland Industries from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lakeland Industries in a research note on Friday, September 25th. Roth Capital set a $17.00 price objective on shares of Lakeland Industries in a report on Thursday, September 10th. Finally, Wall Street Zen cut shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 12th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.00.

Lakeland Industries Trading Down 1.3%

NASDAQ LAKE opened at $9.29 on Wednesday. The stock’s 50-day simple moving average is $9.90 and its two-hundred day simple moving average is $10.13. Lakeland Industries has a twelve month low of $7.15 and a twelve month high of $16.91. The company has a quick ratio of 1.34, a current ratio of 2.98 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $92.25 million, a price-to-earnings ratio of -3.43 and a beta of 1.50.

Lakeland Industries (NASDAQ:LAKE) last posted 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). The firm had revenue of $50.14 million during the quarter, compared to analysts’ expectations of $51.36 million. Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%. Research analysts forecast that Lakeland Industries will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LAKE. Persistent Asset Partners Ltd bought a new position in Lakeland Industries during the 2nd quarter worth approximately $38,000. Ancora Advisors LLC purchased a new stake in shares of Lakeland Industries during the second quarter valued at approximately $54,000. Sei Investments Co. bought a new position in shares of Lakeland Industries in the first quarter worth approximately $88,000. Bank of America Corp DE grew its holdings in shares of Lakeland Industries by 173.9% in the first quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 12,171 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of Lakeland Industries in the second quarter worth approximately $300,000. Institutional investors own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc. (NASDAQ: LAKE) designs, manufactures and sells industrial and public-safety protective clothing and accessories. Its products are intended to help protect workers from chemical exposure, fire and heat, arc flash, hazardous particles, infectious materials and other workplace risks. The company’s product portfolio includes disposable and reusable coveralls, chemical-resistant suits, flame-resistant and high-visibility apparel, protective garments for cleanrooms and healthcare environments, gloves, sleeves, footwear and other personal protective equipment.