BlackRock Inc. Takes $1.69 Million Position in Lakeland Industries, Inc. $LAKE

Key Points

• BlackRock acquired 158,276 shares of Lakeland Industries in the second quarter, worth approximately $1.69 million and representing about 1.60% of the company. Institutional investors collectively own 71.69% of LAKE.
• Lakeland reported quarterly revenue of $47.42 million and EPS of $0.04, beating the consensus estimate of a $0.14 loss per share. However, the company continues to report negative net margins and return on equity.
• Analyst sentiment is mixed, with three Buy, one Hold, and one Sell rating; the consensus rating is Hold with a $16.00 price target, while the stock recently traded at $11.95.

BlackRock Inc. acquired a new position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 158,276 shares of the medical instruments supplier's stock, valued at approximately $1,692,000. BlackRock Inc. owned about 1.60% of Lakeland Industries at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LAKE. BNP Paribas Financial Markets lifted its position in shares of Lakeland Industries by 87.8% during the third quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier's stock valued at $27,000 after buying an additional 839 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Lakeland Industries in the 2nd quarter worth approximately $38,000. Bank of America Corp DE grew its position in shares of Lakeland Industries by 189.9% in the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock worth $57,000 after buying an additional 2,736 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Lakeland Industries during the 2nd quarter worth approximately $59,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Lakeland Industries during the second quarter valued at approximately $68,000. Institutional investors own 71.69% of the company's stock.

Lakeland Industries Stock Performance

NASDAQ:LAKE opened at $11.95 on Monday. Lakeland Industries, Inc. has a 12 month low of $7.15 and a 12 month high of $18.00. The firm has a fifty day simple moving average of $11.56 and a 200-day simple moving average of $10.29. The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $117.95 million, a P/E ratio of -5.61 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last released its earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%.The firm had revenue of $47.42 million for the quarter, compared to the consensus estimate of $47.36 million. On average, equities research analysts anticipate that Lakeland Industries, Inc. will post -0.28 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on LAKE shares. Wall Street Zen raised shares of Lakeland Industries from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings upgraded Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. Finally, DA Davidson raised their price objective on Lakeland Industries from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.00.

Lakeland Industries 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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