Lakeland Industries (NASDAQ:LAKE) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a strong sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

Separately, ValuEngine raised Lakeland Industries from a buy rating to a strong-buy rating in a research note on Thursday, August 1st.



Shares of LAKE traded down $0.13 during trading hours on Wednesday, hitting $10.64. 688 shares of the company were exchanged, compared to its average volume of 48,098. The company has a market capitalization of $89.60 million, a P/E ratio of 25.95 and a beta of 0.58. The company has a quick ratio of 2.09, a current ratio of 5.01 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $10.91. Lakeland Industries has a one year low of $9.70 and a one year high of $14.44.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Monday, June 10th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). The company had revenue of $24.68 million for the quarter, compared to the consensus estimate of $25.32 million. Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. Equities analysts anticipate that Lakeland Industries will post 0.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teton Advisors Inc. boosted its stake in shares of Lakeland Industries by 10.1% during the 1st quarter. Teton Advisors Inc. now owns 16,510 shares of the medical instruments supplier’s stock worth $194,000 after acquiring an additional 1,510 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Lakeland Industries by 6.4% during the 2nd quarter. BlackRock Inc. now owns 48,078 shares of the medical instruments supplier’s stock worth $539,000 after acquiring an additional 2,890 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lakeland Industries by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 316,934 shares of the medical instruments supplier’s stock worth $3,550,000 after acquiring an additional 10,278 shares in the last quarter. Private Capital Management LLC boosted its stake in shares of Lakeland Industries by 2.6% during the 2nd quarter. Private Capital Management LLC now owns 731,998 shares of the medical instruments supplier’s stock worth $8,198,000 after acquiring an additional 18,733 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of Lakeland Industries by 88.6% during the 1st quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock worth $597,000 after acquiring an additional 23,894 shares in the last quarter. 60.56% of the stock is owned by institutional investors and hedge funds.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.

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