Evernest Financial Advisors LLC Acquires Shares of 66,392 Lakeland Industries, Inc. (NASDAQ:LAKE)

Key Points

• Evernest Financial Advisors LLC acquired 66,392 shares of Lakeland Industries, valued at approximately $1,348,000, having owned about 0.70% of the company by the end of the last quarter.
• A number of institutional investors increased their stakes in Lakeland Industries, with Royce & Associates LP growing its position by 9.4% to 931,920 shares.
• Lakeland Industries recently reported a loss of $0.41 per share in its latest quarterly earnings, missing the analyst consensus estimate of $0.27.

Evernest Financial Advisors LLC bought a new position in shares of Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 66,392 shares of the medical instruments supplier's stock, valued at approximately $1,348,000. Evernest Financial Advisors LLC owned about 0.70% of Lakeland Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP grew its stake in Lakeland Industries by 9.4% in the 1st quarter. Royce & Associates LP now owns 931,920 shares of the medical instruments supplier's stock worth $18,927,000 after acquiring an additional 79,940 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Lakeland Industries by 112.5% in the 4th quarter. Ancora Advisors LLC now owns 149,493 shares of the medical instruments supplier's stock worth $3,820,000 after buying an additional 79,148 shares during the period. Susquehanna International Group LLP grew its position in shares of Lakeland Industries by 261.9% during the 4th quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier's stock worth $2,515,000 after buying an additional 71,224 shares in the last quarter. Expect Equity LLC purchased a new position in shares of Lakeland Industries during the fourth quarter valued at $1,809,000. Finally, Jane Street Group LLC bought a new position in shares of Lakeland Industries during the fourth quarter valued at approximately $494,000. 71.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LAKE shares. Wall Street Zen raised Lakeland Industries to a "sell" rating in a research report on Wednesday, May 7th. Lake Street Capital set a $26.00 price target on Lakeland Industries and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, DA Davidson cut their price objective on shares of Lakeland Industries from $28.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th.

Lakeland Industries Trading Down 1.1%

Lakeland Industries stock opened at $13.93 on Thursday. The stock's 50 day simple moving average is $14.74 and its two-hundred day simple moving average is $18.26. Lakeland Industries, Inc. has a 12 month low of $12.76 and a 12 month high of $27.28. The firm has a market cap of $132.47 million, a PE ratio of -4.63 and a beta of 1.01. The company has a current ratio of 3.88, a quick ratio of 1.51 and a debt-to-equity ratio of 0.17.

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 for the quarter, missing the consensus estimate of $0.27 by ($0.68). The business had revenue of $46.75 million during 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. Analysts anticipate that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Lakeland Industries's dividend payout ratio (DPR) is presently -3.99%.

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.

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