Lakeland Industries (NASDAQ:LAKE) Stock Rating Lowered by ValuEngine

Lakeland Industries (NASDAQ:LAKE) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts also recently weighed in on LAKE. Zacks Investment Research raised Lakeland Industries from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday. Roth Capital set a $15.00 price objective on Lakeland Industries and gave the company a “buy” rating in a report on Tuesday.

Shares of NASDAQ LAKE traded up $0.04 during mid-day trading on Thursday, hitting $11.50. 19,711 shares of the stock traded hands, compared to its average volume of 20,904. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.01 and a quick ratio of 2.09. Lakeland Industries has a twelve month low of $9.70 and a twelve month high of $14.44. The company has a market cap of $82.94 million, a PE ratio of 28.05 and a beta of 0.61. The firm has a 50 day simple moving average of $10.72 and a two-hundred day simple moving average of $11.45.



Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Monday, September 9th. The medical instruments supplier reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.16. Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. The company had revenue of $27.47 million for the quarter, compared to the consensus estimate of $25.62 million. On average, equities research analysts anticipate that Lakeland Industries will post 0.15 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings 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 valued at $539,000 after acquiring an additional 2,890 shares in the last quarter. Granite Investment Partners LLC boosted its holdings 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 valued at $597,000 after acquiring an additional 23,894 shares in the last quarter. Equitable Trust Co. boosted its holdings in shares of Lakeland Industries by 6.2% during the 2nd quarter. Equitable Trust Co. now owns 56,449 shares of the medical instruments supplier’s stock valued at $632,000 after acquiring an additional 3,300 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in Lakeland Industries during the 1st quarter worth $1,723,000. Finally, Vanguard Group Inc. raised its position in 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 purchasing an additional 10,278 shares during the last quarter. 60.33% of the stock is currently owned by institutional investors.

About Lakeland Industries

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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