Lakeland Industries (NASDAQ:LAKE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a sell rating to a hold rating in a research note published on Friday.

Several other brokerages have also commented on LAKE. Maxim Group lifted their price objective 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 boosted their price target on Lakeland Industries from $25.00 to $27.00 and gave the company a buy rating in a research note on Wednesday, July 3rd.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE opened at $20.10 on Friday. The firm’s 50-day moving average price is $22.39 and its 200-day moving average price is $20.32. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a market cap of $148.30 million, a PE ratio of 26.80 and a beta of 0.57. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24.

Lakeland Industries (NASDAQ:LAKE) last issued its 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 return on equity of 3.70% and a net margin of 1.38%. The company had revenue of $38.51 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, analysts anticipate that Lakeland Industries will post 0.96 EPS for the current year.

Lakeland Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, August 15th. Lakeland Industries’s payout ratio is 16.00%.

Hedge Funds Weigh In On Lakeland Industries

Institutional investors have recently bought and sold shares of the stock. High Falls Advisors Inc grew its holdings in Lakeland Industries by 35.8% during the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after purchasing an additional 5,137 shares during the period. Renaissance Technologies LLC lifted its position in shares of Lakeland Industries by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock valued at $11,452,000 after buying an additional 13,200 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Lakeland Industries during the 2nd quarter valued at approximately $597,000. Inspire Advisors LLC purchased a new stake in Lakeland Industries in the 2nd quarter worth approximately $222,000. Finally, Quadrature Capital Ltd raised its stake in Lakeland Industries by 47.0% during the 1st quarter. Quadrature Capital Ltd now owns 18,641 shares of the medical instruments supplier’s stock worth $339,000 after acquiring an additional 5,957 shares during the period. 71.69% of the stock is owned by institutional investors.

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.