Dimensional Fund Advisors LP Trims Holdings in Lakeland Industries, Inc. $LAKE

Key Points

• Dimensional Fund Advisors reduced its Lakeland Industries stake by 23.5% in the first quarter, selling 100,858 shares and retaining 329,144 shares worth approximately $2.7 million. Institutional investors collectively own 71.69% of LAKE.
• Analyst sentiment is mixed, with three Buy ratings, one Hold, and one Sell; the stock has an average rating of Hold and a consensus price target of $16, compared with a recent price of $11.89.
• Lakeland beat quarterly earnings expectations, reporting $0.04 per share versus the projected $0.14 loss, while revenue of $47.42 million was broadly in line with estimates. Despite the earnings beat, the company remains unprofitable and analysts expect a full-year loss of $0.28 per share.

Dimensional Fund Advisors LP reduced its position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,144 shares of the medical instruments supplier's stock after selling 100,858 shares during the period. Dimensional Fund Advisors LP owned 3.35% of Lakeland Industries worth $2,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LAKE. BNP Paribas Financial Markets raised its position in shares of Lakeland Industries by 87.8% in 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. Bank of America Corp DE boosted its position in Lakeland Industries by 189.9% during the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock worth $57,000 after acquiring an additional 2,736 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Lakeland Industries in the 2nd quarter worth approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Lakeland Industries in the 2nd quarter worth approximately $68,000. Finally, Wells Fargo & Company MN grew its stake in Lakeland Industries by 35.5% in the 4th quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier's stock worth $84,000 after acquiring an additional 2,492 shares during the period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LAKE. Weiss Ratings raised Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 29th. Wall Street Zen raised Lakeland Industries from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. DA Davidson upped their target price on Lakeland Industries from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Maxim Group set a $16.00 target price on Lakeland Industries in a research report on Monday, April 20th. Finally, Lake Street Capital decreased their price target on Lakeland Industries from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Three investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $16.00.

Lakeland Industries Stock Performance

Shares of LAKE stock opened at $11.89 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 3.09. The firm has a market capitalization of $117.35 million, a price-to-earnings ratio of -5.58 and a beta of 1.43. Lakeland Industries, Inc. has a one year low of $7.15 and a one year high of $18.00. The company has a 50 day moving average price of $11.10 and a 200 day moving average price of $10.05.

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

About Lakeland Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source