Lakeland Industries (NASDAQ:LAKE) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Lakeland Industries (NASDAQ:LAKE) posted its quarterly earnings results on Tuesday. The medical instruments supplier reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.08), Fidelity Earnings reports. Lakeland Industries had a return on equity of 32.40% and a net margin of 22.08%.

Shares of LAKE stock opened at $26.43 on Thursday. The firm has a 50 day moving average of $26.91. Lakeland Industries has a twelve month low of $17.88 and a twelve month high of $47.95. The company has a market cap of $212.15 million and a P/E ratio of 6.12.

A hedge fund recently raised its stake in Lakeland Industries stock. Morgan Stanley lifted its stake in Lakeland Industries, Inc. (NASDAQ:LAKE) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,822 shares of the medical instruments supplier’s stock after acquiring an additional 1,095 shares during the period. Morgan Stanley owned 0.21% of Lakeland Industries worth $469,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 67.73% of the company’s stock.

A number of equities research analysts have recently weighed in on LAKE shares. Roth Capital raised their price target on Lakeland Industries from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 16th. Craig Hallum raised their price target on Lakeland Industries from $35.00 to $45.00 in a research note on Friday, April 16th. Finally, Zacks Investment Research raised Lakeland Industries from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, April 19th.

About Lakeland Industries

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.

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Earnings History for Lakeland Industries (NASDAQ:LAKE)

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