Lakeland Industries (NASDAQ:LAKE) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a buy rating in a research note published on Monday, Zacks.com reports. They currently have $31.00 price target 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. “

A number of other research analysts have also commented on LAKE. Craig Hallum lifted their price objective on shares of Lakeland Industries from $35.00 to $45.00 in a research note on Friday, April 16th. Roth Capital lifted their target price on shares of Lakeland Industries from $28.00 to $35.00 and gave the company a buy rating in a report on Friday, April 16th.

NASDAQ LAKE opened at $28.73 on Monday. The firm has a market cap of $230.62 million, a PE ratio of 8.16 and a beta of 0.03. Lakeland Industries has a one year low of $12.44 and a one year high of $47.95. The firm’s fifty day moving average is $28.44 and its two-hundred day moving average is $27.01.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Wednesday, April 14th. The medical instruments supplier reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.29. Lakeland Industries had a net margin of 18.93% and a return on equity of 28.75%. Research analysts anticipate that Lakeland Industries will post 4.09 EPS for the current year.

Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Lakeland Industries by 42.6% in the fourth quarter. BlackRock Inc. now owns 566,228 shares of the medical instruments supplier’s stock valued at $15,430,000 after buying an additional 169,102 shares during the last quarter. Citigroup Inc. increased its position in Lakeland Industries by 296.5% during the fourth quarter. Citigroup Inc. now owns 1,459 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 1,091 shares during the last quarter. Navellier & Associates Inc increased its position in Lakeland Industries by 18.6% during the fourth quarter. Navellier & Associates Inc now owns 19,305 shares of the medical instruments supplier’s stock worth $526,000 after purchasing an additional 3,033 shares during the last quarter. Fosun International Ltd acquired a new position in Lakeland Industries during the fourth quarter worth approximately $225,000. Finally, State Street Corp increased its position in Lakeland Industries by 35.5% during the third quarter. State Street Corp now owns 111,820 shares of the medical instruments supplier’s stock worth $2,214,000 after purchasing an additional 29,270 shares during the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. 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, toxic and/or lethal chemicals, and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.

See Also: What does an inverted yield curve signify?

Get a free copy of the Zacks research report on Lakeland Industries (LAKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lakeland Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Industries and related companies with MarketBeat.com's FREE daily email newsletter.