StockNews.com Downgrades 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 report released on Friday.

Separately, Roth Mkm increased their target price on Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Lakeland Industries Trading Up 5.1 %

Shares of NASDAQ LAKE opened at $21.77 on Friday. Lakeland Industries has a twelve month low of $13.86 and a twelve month high of $26.10. The firm has a market cap of $160.62 million, a PE ratio of 29.03 and a beta of 0.55. The business has a fifty day simple moving average of $21.45 and a two-hundred day simple moving average of $20.64. 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 announced its earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.61). The business had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $41.10 million. Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. During the same quarter last year, the firm earned $0.32 earnings per share. Analysts expect that Lakeland Industries will post 0.96 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Thursday, August 15th. Lakeland Industries’s dividend payout ratio (DPR) is 16.00%.

Institutional Trading of Lakeland Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAKE. Hillsdale Investment Management Inc. raised its holdings in Lakeland Industries by 37.2% during the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 2,900 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Lakeland Industries by 6.9% in the 1st 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. Inspire Advisors LLC purchased a new stake in shares of Lakeland Industries in the second quarter valued at approximately $222,000. Quadrature Capital Ltd acquired a new position in Lakeland Industries during the fourth quarter worth $236,000. Finally, 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 worth $447,000 after acquiring an additional 5,137 shares during the period. 71.69% of the stock is owned by hedge funds and other 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.