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.
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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