Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 80,900 shares, a decline of 16.3% from the September 15th total of 96,700 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 42,100 shares, the days-to-cover ratio is currently 1.9 days.

Lakeland Industries Stock Performance

NASDAQ LAKE opened at $19.64 on Wednesday. The company’s 50 day moving average is $21.56 and its 200-day moving average is $20.58. Lakeland Industries has a 12-month low of $13.86 and a 12-month high of $26.10. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The firm has a market cap of $144.90 million, a P/E ratio of 26.19 and a beta of 0.55.

Lakeland Industries (NASDAQ:LAKE) last posted 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 during the quarter, compared to the consensus estimate of $41.10 million. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts predict that Lakeland Industries will post 0.96 earnings per share for the current year.

Lakeland Industries Dividend Announcement

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

Institutional Trading of Lakeland Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in Lakeland Industries by 6.9% during the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after acquiring an additional 700 shares during the period. North Star Investment Management Corp. increased its holdings in Lakeland Industries by 0.9% during the 1st quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock worth $3,085,000 after acquiring an additional 1,503 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Lakeland Industries by 37.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 2,900 shares during the period. High Falls Advisors Inc increased its holdings in Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after acquiring an additional 5,137 shares during the period. Finally, Quadrature Capital Ltd increased its holdings 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. Institutional investors own 71.69% of the company’s stock.

Analysts Set New Price Targets

LAKE has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Lakeland Industries from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Roth Mkm boosted their price target on shares of Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

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.