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

Zacks Investment Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. They currently have $13.00 target price on the medical instruments supplier’s stock.

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. “

Other equities analysts have also issued research reports about the stock. Roth Capital set a $15.00 price objective on shares of Lakeland Industries and gave the stock a buy rating in a report on Tuesday. ValuEngine upgraded shares of Lakeland Industries from a buy rating to a strong-buy rating in a report on Thursday, August 1st.



LAKE stock traded up $0.44 during trading on Thursday, reaching $11.94. The stock had a trading volume of 106 shares, compared to its average volume of 15,968. Lakeland Industries has a 1-year low of $9.70 and a 1-year high of $14.44. The company has a current ratio of 5.49, a quick ratio of 2.09 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $90.69 million, a P/E ratio of 28.66 and a beta of 0.61. The firm has a fifty day moving average price of $10.72 and a 200 day moving average price of $11.45.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Monday, September 9th. The medical instruments supplier reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.16. Lakeland Industries had a negative net margin of 0.49% and a positive return on equity of 1.67%. The firm had revenue of $27.47 million for the quarter, compared to analyst estimates of $25.62 million. Sell-side analysts predict that Lakeland Industries will post 0.45 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAKE. BlackRock Inc. increased its position in shares of Lakeland Industries by 6.4% in the 2nd quarter. BlackRock Inc. now owns 48,078 shares of the medical instruments supplier’s stock worth $539,000 after purchasing an additional 2,890 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of Lakeland Industries by 88.6% in the 1st quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock worth $597,000 after purchasing an additional 23,894 shares during the last quarter. Equitable Trust Co. increased its position in shares of Lakeland Industries by 6.2% in the 2nd quarter. Equitable Trust Co. now owns 56,449 shares of the medical instruments supplier’s stock worth $632,000 after purchasing an additional 3,300 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Lakeland Industries in the 1st quarter worth about $1,723,000. Finally, Vanguard Group Inc. increased its position in shares of Lakeland Industries by 3.4% in 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 owned by institutional investors.

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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