Lakeland Industries, Inc. (NASDAQ:LAKE) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Broker consensus is “Hold” for Lakeland Industries, with three buy ratings, one hold, and one sell among five analysts. The average 12-month price target is $15.00, above the stock’s reported $10.48 opening price.
• The company’s latest quarter fell well short of expectations, posting an EPS loss of $0.50 versus the estimated $0.06 loss and revenue of $50.14 million versus the $51.36 million consensus.
• LAKE has a market capitalization of approximately $104 million and remains unprofitable, with a negative 13.99% net margin; institutional investors and hedge funds own 71.69% of its shares.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) has earned a consensus recommendation of "Hold" from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.00.

LAKE has been the topic of several recent research reports. Wall Street Zen cut Lakeland Industries from a "hold" rating to a "strong sell" rating in a report on Saturday, September 12th. Roth Capital set a $17.00 price objective on Lakeland Industries in a report on Thursday, September 10th. DA Davidson cut their target price on shares of Lakeland Industries from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Weiss Ratings upgraded shares of Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 29th.

Lakeland Industries Stock Performance

LAKE stock opened at $10.48 on Friday. The company has a 50 day moving average price of $11.39 and a 200 day moving average price of $10.37. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.98 and a quick ratio of 1.34. The stock has a market capitalization of $104.07 million, a PE ratio of -3.87 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. Analysts forecast that Lakeland Industries will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Lakeland Industries

Several large investors have recently bought and sold shares of LAKE. 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 shares of Lakeland Industries in the 2nd quarter valued at $54,000. Sei Investments Co. bought a new position in shares of Lakeland Industries in the 1st quarter worth $88,000. Bank of America Corp DE bought a new position in shares of Lakeland Industries in the 2nd quarter worth $163,000. Finally, R Squared Ltd bought a new position in shares of Lakeland Industries in the 1st quarter worth $125,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

About Lakeland Industries

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing and accessories. Its products are designed to help protect workers from chemical exposure, fire and heat, hazardous particles, infectious materials, and other workplace risks.

The company's product portfolio includes disposable and limited-use garments, chemical-protective clothing, flame-resistant apparel, high-visibility clothing, gloves, sleeves, hoods, footwear, and related protective equipment.

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