Lakeland Industries (NASDAQ:LAKE) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Lakeland Industries from “hold” to “strong sell,” while other analysts remain mixed; the overall consensus rating is “Hold” with an average price target of $15.60.
• Lakeland reported a quarterly loss of $0.50 per share, missing the $0.06 loss estimate, while revenue of $50.14 million also fell short of expectations.
• LAKE shares opened at $10.08, and institutional investors own approximately 71.69% of the company; several firms recently initiated or increased their positions.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on LAKE. Roth Capital set a $17.00 price objective on Lakeland Industries in a report on Thursday. DA Davidson increased their target price on Lakeland Industries from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Finally, Weiss Ratings raised Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lakeland Industries has a consensus rating of "Hold" and an average price target of $15.60.

Lakeland Industries Stock Performance

Shares of LAKE stock opened at $10.08 on Friday. The company has a market capitalization of $100.09 million, a price-to-earnings ratio of -3.72 and a beta of 1.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 2.98. The company has a 50-day simple moving average of $11.49 and a 200 day simple moving average of $10.33. Lakeland Industries has a 52 week low of $7.15 and a 52 week high of $18.00.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The medical instruments supplier reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.44). The company had revenue of $50.14 million during the quarter, compared to analyst estimates of $51.36 million. Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. On average, sell-side analysts predict that Lakeland Industries will post -0.4 earnings per share for the current year.

Institutional Trading of Lakeland Industries

A number of institutional investors have recently modified their holdings of LAKE. BlackRock Inc. acquired a new stake in Lakeland Industries during the second quarter worth about $1,692,000. Kennedy Capital Management LLC acquired a new position in shares of Lakeland Industries in the 3rd quarter valued at approximately $2,287,000. Geode Capital Management LLC raised its position in shares of Lakeland Industries by 115.9% in the 2nd quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier's stock valued at $2,964,000 after buying an additional 116,901 shares in the last quarter. Expect Equity LLC bought a new stake in shares of Lakeland Industries during the 2nd quarter worth approximately $921,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Lakeland Industries during the 2nd quarter worth approximately $602,000. 71.69% of the stock is currently owned by institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc NASDAQ: LAKE is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company's expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.

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