Lakeland Industries (NASDAQ:LAKE) Coverage Initiated by Analysts at Maxim Group

Maxim Group assumed coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a report published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $22.00 price target on the medical instruments supplier’s stock.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Lakeland Industries from a buy rating to a hold rating in a research note on Wednesday, April 3rd. TheStreet upgraded shares of Lakeland Industries from a c+ rating to a b- rating in a research note on Thursday, February 1st.

Lakeland Industries Stock Up 2.8 %

Shares of LAKE stock opened at $17.15 on Wednesday. Lakeland Industries has a twelve month low of $10.60 and a twelve month high of $19.66. The company has a market capitalization of $126.40 million, a price-to-earnings ratio of 24.16 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.74 and a current ratio of 5.53. The stock’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $16.47.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). The firm had revenue of $31.20 million during the quarter, compared to analyst estimates of $32.50 million. Lakeland Industries had a net margin of 4.33% and a return on equity of 6.63%. As a group, research analysts predict that Lakeland Industries will post 1.75 EPS for the current year.

Lakeland Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.12 annualized dividend and a yield of 0.70%. Lakeland Industries’s dividend payout ratio is currently 16.90%.

Hedge Funds Weigh In On Lakeland Industries

Several institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new position in Lakeland Industries in the 4th quarter valued at $236,000. Equitable Trust Co. raised its position in shares of Lakeland Industries by 10.7% in the 4th quarter. Equitable Trust Co. now owns 27,665 shares of the medical instruments supplier’s stock valued at $513,000 after acquiring an additional 2,680 shares during the period. Barclays PLC acquired a new stake in Lakeland Industries in the third quarter worth $53,000. Finally, Bailard Inc. acquired a new stake in Lakeland Industries during the 3rd quarter worth $225,000. Institutional investors own 71.69% of the company’s stock.

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 firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.