StockNews.com Lowers Lakeland Industries (NASDAQ:LAKE) to Sell

StockNews.com lowered shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a sell rating in a research report sent to investors on Monday.

A number of other equities research analysts also recently weighed in on the company. Maxim Group lifted their target price on Lakeland Industries from $22.00 to $26.00 and gave the stock a buy rating in a report on Thursday, June 6th. Roth Mkm lifted their target price on Lakeland Industries from $25.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, July 3rd.

Lakeland Industries Price Performance

NASDAQ LAKE opened at $19.56 on Monday. The business has a 50 day simple moving average of $23.06 and a 200 day simple moving average of $19.99. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 5.39. The stock has a market cap of $144.31 million, a price-to-earnings ratio of 26.08 and a beta of 0.57.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. The business had revenue of $38.51 million for the quarter, compared to analyst estimates of $41.10 million. During the same period in the prior year, the business earned $0.32 EPS. Analysts anticipate that Lakeland Industries will post 1.51 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, August 15th. Lakeland Industries’s payout ratio is currently 16.00%.

Hedge Funds Weigh In On Lakeland Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Advisors LLC acquired a new position in shares of Lakeland Industries in the second quarter worth approximately $222,000. Hillsdale Investment Management Inc. lifted its stake in Lakeland Industries by 37.2% in the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock valued at $196,000 after buying an additional 2,900 shares during the period. Empowered Funds LLC lifted its stake in Lakeland Industries by 6.9% in the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after buying an additional 700 shares during the period. Quadrature Capital Ltd acquired a new position in Lakeland Industries in the fourth quarter valued at approximately $236,000. Finally, High Falls Advisors Inc lifted its stake in Lakeland Industries by 35.8% in the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after buying an additional 5,137 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

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 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.