Lakeland Industries (NASDAQ:LAKE) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Lakeland Industries from “strong sell” to “hold.” Analyst opinions remain mixed, while MarketBeat’s consensus rating is “Hold” with a $15 price target.
• Lakeland opened at $9.29 and was down 1.3%; its share price remained below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.50 per share, missing the $0.06 loss analysts expected, and revenue of $50.14 million, below the $51.36 million consensus.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lakeland Industries in a research report on Friday, September 25th. DA Davidson dropped their target price on Lakeland Industries from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, September 14th. Wall Street Zen lowered Lakeland Industries from a "hold" rating to a "strong sell" rating in a report on Saturday, September 12th. Finally, Roth Capital set a $17.00 price target on Lakeland Industries in a research note on Thursday, September 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lakeland Industries presently has a consensus rating of "Hold" and a consensus price target of $15.00.

Lakeland Industries Stock Down 1.3%

LAKE stock opened at $9.29 on Wednesday. The company's 50 day moving average price is $9.90 and its 200 day moving average price is $10.13. The firm has a market capitalization of $92.25 million, a price-to-earnings ratio of -3.43 and a beta of 1.50. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 2.98.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.44). Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%. The firm had revenue of $50.14 million during the quarter, compared to analysts' expectations of $51.36 million. On average, equities research analysts anticipate that Lakeland Industries will post -0.48 EPS for the current fiscal year.

Institutional Trading of Lakeland Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd acquired a new stake in Lakeland Industries during the 2nd quarter worth $38,000. Ancora Advisors LLC acquired a new position in Lakeland Industries in the second quarter valued at $54,000. Sei Investments Co. purchased a new stake in shares of Lakeland Industries in the first quarter valued at about $88,000. Bank of America Corp DE raised its holdings in shares of Lakeland Industries by 173.9% in the first quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier's stock valued at $157,000 after buying an additional 12,171 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Lakeland Industries during the second quarter worth about $300,000. Hedge funds and other institutional investors own 71.69% of the company's stock.

About Lakeland Industries

Lakeland Industries, Inc. NASDAQ: LAKE designs, manufactures and sells industrial and public-safety protective clothing and accessories. Its products are intended to help protect workers from chemical exposure, fire and heat, arc flash, hazardous particles, infectious materials and other workplace risks. The company's product portfolio includes disposable and reusable coveralls, chemical-resistant suits, flame-resistant and high-visibility apparel, protective garments for cleanrooms and healthcare environments, gloves, sleeves, footwear and other personal protective equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.