Lakeland Industries (NASDAQ:LAKE) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Lakeland Industries shares moved above their 200-day moving average on Monday, trading as high as $11.56 and last changing hands at $11.48, up 0.4% on the day.
• Analyst sentiment remains mixed but slightly positive, with three Buy ratings, one Hold, and one Sell; the average price target is $16.00.
• The company recently reported better-than-expected quarterly earnings, posting $0.04 EPS versus the expected loss of $0.14, while revenue came in roughly in line with estimates at $47.42 million.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.74 and traded as high as $11.56. Lakeland Industries shares last traded at $11.48, with a volume of 136,073 shares changing hands.

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Analyst Upgrades and Downgrades

LAKE has been the subject of a number of research reports. Weiss Ratings raised shares of Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 29th. Wall Street Zen raised Lakeland Industries from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Maxim Group set a $16.00 price target on Lakeland Industries in a research note on Monday, April 20th. Lake Street Capital cut their price target on Lakeland Industries from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, April 17th. Finally, DA Davidson boosted their price objective on Lakeland Industries from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.00.

Lakeland Industries Stock Up 0.4%

The company has a debt-to-equity ratio of 0.20, a current ratio of 3.09 and a quick ratio of 1.34. The firm's 50 day moving average price is $10.68 and its two-hundred day moving average price is $9.74. The firm has a market cap of $113.31 million, a price-to-earnings ratio of -5.39 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The medical instruments supplier reported $0.04 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 during the quarter, compared to the consensus estimate of $47.36 million. As a group, sell-side analysts forecast that Lakeland Industries, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lakeland Industries

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 839 shares in the last quarter. Bank of America Corp DE boosted 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. acquired a new stake in shares of Lakeland Industries in the 2nd quarter valued at approximately $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lakeland Industries in the 2nd quarter valued at approximately $68,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Lakeland Industries by 35.5% in the fourth quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier's stock valued at $84,000 after buying an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company's stock.

Lakeland Industries Company 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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