Lakeland Industries, Inc. (NASDAQ:LAKE) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate Lakeland Industries “Hold” on average: Three analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $15.00, above the reported $9.76 share price.
• Recent financial results missed expectations: Lakeland reported a quarterly loss of $0.50 per share versus the expected $0.06 loss, while revenue of $50.14 million fell short of the $51.36 million consensus estimate.
• Institutional investors own 71.69% of the company: Several hedge funds initiated positions, and Bank of America increased its holdings by 173.9% during the first quarter.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.00.

Several brokerages recently issued reports on LAKE. Wall Street Zen lowered shares of Lakeland Industries from a "hold" rating to a "strong sell" rating in a research note on Saturday, September 12th. Roth Capital set a $17.00 price objective on shares of Lakeland Industries in a report on Thursday, September 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lakeland Industries in a research note on Friday, September 25th. Finally, DA Davidson decreased their target price on shares of Lakeland Industries from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, September 14th.

Lakeland Industries Price Performance

LAKE opened at $9.76 on Tuesday. The stock has a fifty day simple moving average of $11.12 and a two-hundred day simple moving average of $10.58. The company has a current ratio of 2.98, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The company has a market cap of $96.93 million, a price-to-earnings ratio of -3.60 and a beta of 1.45. Lakeland Industries has a 12-month low of $7.15 and a 12-month high of $17.72.

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 the consensus estimate of ($0.06) by ($0.44). Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. The firm had revenue of $50.14 million for the quarter, compared to analysts' expectations of $51.36 million. Research analysts predict that Lakeland Industries will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Lakeland Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd purchased a new position in Lakeland Industries during the second quarter valued at $38,000. Ancora Advisors LLC bought a new stake in Lakeland Industries in the second quarter worth $54,000. Sei Investments Co. purchased a new stake in shares of Lakeland Industries in the first quarter worth $88,000. R Squared Ltd purchased a new stake in shares of Lakeland Industries in the first quarter worth $125,000. Finally, Bank of America Corp DE increased its holdings in shares of Lakeland Industries by 173.9% during 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 acquiring an additional 12,171 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company's stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing. The company develops apparel and related products designed to help protect workers from chemical exposure, hazardous materials, fire, heat, cold, airborne particles and other workplace risks.

Its product portfolio includes disposable and limited-use garments, chemical-resistant suits, flame-resistant and high-visibility clothing, heat- and cold-protective apparel, protective gloves and other personal protective equipment.

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