Ancora Advisors LLC Buys 127,195 Shares of Lakeland Industries, Inc. $LAKE

Key Points

• Ancora Advisors LLC increased its stake in Lakeland Industries by 85.1%, holding 276,688 shares valued at approximately $5.62 million.
• Lakeland Industries reported a quarterly earnings miss with earnings per share at ($0.41), significantly below the consensus estimate of $0.27.
• The stock has received multiple analyst ratings, with a consensus rating of "Moderate Buy" and a price target of $26.00 from Lake Street Capital.

Ancora Advisors LLC boosted its position in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 85.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 276,688 shares of the medical instruments supplier's stock after purchasing an additional 127,195 shares during the period. Ancora Advisors LLC owned about 2.91% of Lakeland Industries worth $5,620,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. High Falls Advisors Inc raised its position in shares of Lakeland Industries by 2.2% in the first quarter. High Falls Advisors Inc now owns 28,061 shares of the medical instruments supplier's stock valued at $570,000 after buying an additional 599 shares in the last quarter. Northern Trust Corp boosted its position in Lakeland Industries by 4.5% during the fourth quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier's stock valued at $378,000 after acquiring an additional 635 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of Lakeland Industries by 4.5% during the first quarter. Jefferies Financial Group Inc. now owns 20,348 shares of the medical instruments supplier's stock valued at $413,000 after purchasing an additional 883 shares during the period. Bank of America Corp DE increased its stake in Lakeland Industries by 114.1% in the 4th quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier's stock valued at $196,000 after buying an additional 4,081 shares during the last quarter. Finally, Private Capital Management LLC increased its stake in Lakeland Industries by 0.4% in the 4th quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier's stock valued at $25,739,000 after buying an additional 4,092 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Industries Trading Up 0.1%

Shares of NASDAQ LAKE traded up $0.02 during midday trading on Monday, hitting $15.00. 56,827 shares of the company traded hands, compared to its average volume of 125,436. Lakeland Industries, Inc. has a 12-month low of $12.76 and a 12-month high of $27.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.51 and a current ratio of 3.88. The stock has a 50-day moving average price of $14.48 and a 200 day moving average price of $16.78. The firm has a market cap of $142.65 million, a P/E ratio of -4.98 and a beta of 1.11.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The medical instruments supplier reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.68). The company had revenue of $46.75 million for the quarter, compared to analysts' expectations of $48.84 million. Lakeland Industries had a negative net margin of 13.31% and a negative return on equity of 6.88%. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts expect that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 15th. Lakeland Industries's dividend payout ratio is -3.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LAKE shares. Zacks Research upgraded shares of Lakeland Industries from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Lake Street Capital set a $26.00 price target on Lakeland Industries and gave the company a "buy" rating in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Lakeland Industries presently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Lakeland Industries 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.