Lakeland Industries (NASDAQ:LAKE) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Lakeland Industries (NASDAQ:LAKE) shares recently surpassed their 200-day moving average of $15.77, reaching a high of $18.00, and last traded at $16.87.
• The company received analyst upgrades, including a shift from a "hold" to a "strong-buy" rating from Zacks Research and a current consensus rating of "Moderate Buy" with an average price target of $25.00.
• Lakeland Industries reported quarterly earnings with $0.36 earnings per share and a revenue of $27.47 million, despite a negative net margin of 11.22%.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.77 and traded as high as $18.00. Lakeland Industries shares last traded at $16.87, with a volume of 257,971 shares changing hands.

Analyst Upgrades and Downgrades

LAKE has been the topic of several research analyst reports. DA Davidson dropped their target price on shares of Lakeland Industries from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Zacks Research upgraded shares of Lakeland Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded shares of Lakeland Industries from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Lakeland Industries in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Lakeland Industries Stock Down 2.6%

The company has a market cap of $161.45 million, a price-to-earnings ratio of -6.16 and a beta of 1.10. The company has a current ratio of 3.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $14.93 and its 200 day simple moving average is $15.77.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last issued its quarterly earnings data on Wednesday, September 21st. The medical instruments supplier reported $0.36 earnings per share for the quarter. The business had revenue of $27.47 million during the quarter. Lakeland Industries had a negative net margin of 11.22% and a negative return on equity of 3.07%. Sell-side analysts predict that Lakeland Industries, Inc. will post 0.48 earnings per share for the current year.

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a $0.03 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.7%. Lakeland Industries's dividend payout ratio is -4.38%.

Hedge Funds Weigh In On Lakeland Industries

Large investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. purchased a new position in Lakeland Industries during the 2nd quarter worth $28,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Lakeland Industries in the 2nd quarter valued at about $31,000. Bank of America Corp DE lifted its holdings in 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 valued at $57,000 after purchasing an additional 2,736 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Lakeland Industries during the 2nd quarter worth about $59,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Lakeland Industries during the 2nd quarter worth about $68,000. Hedge funds and other institutional investors own 71.69% of the company's stock.

About Lakeland Industries

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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